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FKCCI Advocates for Fair Competition at KCCI Roundtable
On September 5th, the FKCCI, represented by its Chairman, actively participated in a Roundtable Meeting held by the Korean Chamber of Commerce (KCCI).
On September 5th, 2024, the French-Korean Chamber of Commerce and Industry (FKCCI), represented by its Chairman, Mr. David-Pierre JALICON, CEO of D.P.J. & Partners Architecture, actively participated in a Roundtable Meeting held by the Korean Chamber of Commerce and Industry (KCCI). This meeting, chaired by Mr Jeong In-gyo, Director General for Trade Negotiations of the Ministry for Trade, Industry and Energy (MOTIE), including Korean officials, brought together representatives from the Chambers of Commerce of United States, Germany, France, the European Union, Japan, and China, along with executives which have their respective investments in Korea.
Jeong In-kyo, head of the Trade Negotiation Headquarters of the Ministry of Trade, Industry and Energy, is presiding over the 'Integration Meeting of Foreign Chambers of Commerce and Investment in Korea
Foreign Chamber Day: A Platform for Dialogue
This roundtable was designed to foster open dialogue between the Korean government and foreign business leaders. It provided a platform for foreign chambers to voice their concerns and propose suggestions to enhance Korea’s business environment for international companies. The meeting also aimed to resolve current investment difficulties and improve understanding of Korea’s key economic policies.
FKCCI’s Concerns Regarding Online Marketplaces
During the session, Mr. JALICON raised a pressing issue affecting foreign companies operating in Korea: the disparity in regulations for foreign businesses established in Korea compared to international sellers on online marketplaces, especially in the beauty / cosmetics and Dermatology sectors.
In Korea, foreign companies are required to follow strict homologation procedures before distributing their products, which includes repackaging, labeling in Korean, and adhering to various safety standards. However, sellers on online marketplaces, particularly those based abroad, can bypass these regulations. This creates a situation of unfair competition, as these sellers avoid the additional costs associated with compliance, while also potentially exposing Korean consumers to unsafe products.
Government Response and Task Force Initiative
In response to this issue, the government has announced the creation of a task force aimed at improving coordination between various ministries and governmental agencies. This task force will focus on regulating international sellers, especially for products that may pose safety risks. The government also plans to implement stricter measures for resellers if their sales exceed a certain threshold. These efforts are intended to ensure a level playing field for all companies operating in Korea and to protect local consumers.
