Latest Changes of Korean Cosmetic Regulations

According to a report by the International Trade Administration (U.S.), South Korea is one of the top 10 beauty markets in the world, accounting for nearly 2.8% of the global cosmetics market. The South Korean cosmetics market is expected to grow at an annual rate of 4.3% during 2015-2019, with a market size of 11.32 trillion won in 2019 and 10.27 trillion won in 2020 due to the epidemic. This year, Ministry of Food and Drug Safety revised Cosmetics Act such as banning the sale of "cosmetic products that imitate food ", revising the requirements for customized cosmetics, optimizing the requirements for solid soap, and adding administrative regulations, etc. The cosmetics team of CIRS Group Korea has combined years of experience in dealing with regulations to help companies enter the Korean market smoothly by introducing the latest changes in Korean cosmetic regulations in the following areas.