A Study on the Trade Expansion Plans of the Cosmetic Ingredients Industry: A Comparison of Domestic and Foreign Laws

Purpose Along with the growth of the cosmetics market, consumers’ demand for organic and eco-friendly materials is increasing, further emphasizing the importance of cosmetics materials. However, most of Korea’s cosmetics ingredients depend on overseas imports from China, Japan, and the United States, acting as a limiting factor for the continued growth of the domestic cosmetics industry. Despite the strengthening of regulations on the import and export of cosmetics materials worldwide, it is not specifically specified in the domestic enforcement ordinance or enforcement regulations, this paper would like to summarize countermeasures for this. Design/Methodology/Approach In this paper, after reviewing domestic cosmetics-related laws and administrative rules, the European Union’s new chemical system was analyzed, and related laws in China were examined. In addition, in accordance with the main contents of the Nagoya Protocol, the problems that raw material companies should urgently deal with were examined, and the government’s countermeasures necessary for this were summarized. Findings As a result, In order for K-cosmetics to challenge the global market, it is necessary to meet international regulatory standards from the development stage, and government help to quickly provide information on changing laws and regulations related to the cosmetics raw material industry is urgently needed. Research Implications In addition, this paper will help predict and prepare risk variables in advance by analyzing domestic laws and national laws related to import of raw materials for overseas cosmetics.