As you may know, South Korea is one of the leading global markets for cosmetic products. However, the impact of COVID-19 has triggered various changes in the regional cosmetics industry.
’Personalized beauty’ is one of the growing trends in South Korea.
To strengthen the cosmetic product regulations in South Korea, the Ministry of Food and Drug Safety (MFDS) introduced six draft amendments in 2019.
The Ministry of Food and Drug Safety (MFDS) of South Korea is modifying its Cosmetics Safety Standards to align with the European Union (EU) legislation for cosmetic ingredients.
The Korean beauty market is valued at USD 13 billion, making it one of the top 10 beauty markets in the world and offering a pool of business opportunities for manufacturers.