The Ministry of Food and Drug Safety of South Korea announced on January 10 that it would form a new council with ASEAN member countries by 2019 so that regulations in the cosmetics industry can be made uniform in the region and South Korean cosmetics companies can better penetrate the ASEAN market.
To this end, the ministry is going to sign agreements with the countries for compatible Good Manufacturing Practice (GMP) standards, compatible customs clearance procedure, regulatory unification, etc. The ministry is also planning to enhance the role of the One Asia Cosmetics and Beauty Forum and pursue the same goal with China and Japan in the long term. The ministry explained that it is already having talks with Vietnam and Indonesia.
“Although China still accounts for the largest portion of South Korea’s cosmetics exports, an increasing number of South Korean cosmetics companies are turning their eyes toward the regions including Southeast Asia in the wake of China’s THAAD retaliation that began last year,” the ministry said, adding, “The new council to be led by South Korea will be a boon to the companies.”
In this regard, the ministry is going to provide more information and data for export purposes and strengthen its function as an organization training local cosmetics companies. In addition, it is going to provide training and consulting regarding Halal certification so that local cosmetics companies can expand their business in the Middle East with greater ease.