“Customized cosmetics” are only available in some cosmetics stores at the moment. However, they are expected to be more diverse and more accessible in the future. The Korean government has joined hands with cosmetics manufacturers, such as AmorePacific and LG Household & Health Care, to carry out a “customized cosmetics pilot project” from March 2016.
At the “Cosmetic Business CEO Conference” held at Conrad Seoul in Yeouido on January 10, Food and Drug Safety Minister Ryu Young-jin said, “In time for the Fourth Industrial Revolution, we will introduce “tailored cosmetics retail business” this year. The conference was participated in by 13 CEOs in the cosmetics industry, including AmorePacific Chairman Suh Kyung-bae, L'Oreal Korea CEO Yann Le Bourdon and P&G Korea CEO Kim Joo-youn.
According to the government, the revised Cosmetics Act, which contains the establishment of customized cosmetics retail business systems, already passed the Legislation and Justice Committee of the Korean National Assembly and will be referred to the plenary session. An official from the Ministry of Food and Drug Safety said, “The law will be expected to pass as early as the first half of this year.”
When the law is passed, customers will be able to instantly create their own cosmetic products as they please at stores and to sell a smaller amount of cosmetic products as they want.
In addition, the government introduced its policy to protect both producers and consumers from exaggerated advertisements and guarantee the right of product choice by adopting organic cosmetics certificate systems. Currently, the revised cosmetics law related to natural and organic cosmetics certificate systems is also under review in the National Assembly.