Invisible Barrier Gone
South Korea will no longer require mental health certificates for cosmetics entrepreneurs with foreign investment funds, Yoon Sang-jick, minister of trade, industry & energy said on May 6.
South Korea had been requiring mental health certificates, including a drug addiction diagnosis, from a local doctor for any CEO of a Korean cosmetics production or retail company that received foreign investment. This requirement had deterred foreign investments in the sector, the Ministry of Trade, Industry and Energy (MOTIE) said.
Lee Nam-hee, director of the cosmetics policy sector of the Ministry of Food and Drug Safety (MFDS), told Business Korea that the mental health certificate had been required for reasons including ensuring the safety of cosmetics goods.
Another official of the MFDS told Business Korea that the government had been requiring mental health certificates to ensure the safety of certain sectors such as medicine and cosmetics, but now it is trying to revise the old regulations in accordance with the current environment.