South Korean president Park Geun-hye signed the Registration and Evaluation of Chemicals (REACH) bill into law this month. The registration, evaluation, authorization and restriction of chemical substances are covered by the law, which is based on the EU system. The law takes effect January 1, 2015. Registration is mandatory if a firm manufactures or imports products that contain more than 1 metric ton in total aggregate content of any chemical. For evaluation, the toxicity risk-assessment limit is implemented at 100 metric tons in 2015 and reduced each year to reach 10 metric tons in 2020. The Ministry of Environment may stipulate risk assessments for suspected toxic products. About 85% of South Korea’s 44,000 chemical substances do not have adequate hazard profiles, according to the Ministry. The Ministry will consult with industry and environmental groups and the private sector to create specific guidelines for the law.

Source: Bloomberg BNA