Thank you Juraj.
There are both on the same IIS server named prod1 and each one has its own IIS web site:
-prod1
|->admin
|->mysite
The live site (mysite) has been developed using ASP.Net Core.
Each one is having its own pool as described in kentico documentation, proper permissions have been given to the folders. This site is our target server in the staging process.
Please let me know if you need more information.