Simplification of Risk Assessment for Industrial LMO
Approval of the Partial Amendment to the Enforcement Decree of the "Genetically Modified Organisms Act" at the Cabinet Meeting on the 1st
[Asia Economy Reporter Moon Chaeseok] The government announced that it will simplify the risk assessment process for Living Modified Organisms (LMOs). This is to reduce the time and cost involved when LMOs that have undergone risk assessment for food use are utilized for industrial purposes.
On the 1st, the Ministry of Trade, Industry and Energy announced that the 'Partial Amendment to the Enforcement Decree of the LMO Act' containing these details was approved at the Cabinet meeting.
The Ministry introduced that there is demand to import genetically modified corn, which has undergone risk assessment for food use, for industrial use to manufacture adhesives for construction.
Under current regulations, risk assessments must be conducted separately for each use, so even if genetically modified corn has undergone risk assessment for food use, it must be reassessed when imported for industrial use.
Going forward, if a risk assessment has already been conducted, a simplified risk assessment can be received when changing to a different use as determined by the head of the relevant central administrative agency. However, this does not apply when changing to food use.
Accordingly, if the relevant central administrative agency head deems it necessary to simplify the risk assessment due to a change in use, they can revise the subordinate legislation, the 'Integrated Notice of the LMO Act,' to establish procedures and methods.
The Ministry of Trade, Industry and Energy plans to be the first among the relevant central administrative agencies to prepare an integrated notice regarding the simplification of risk assessments. This aims to reduce the burden on companies importing, producing, and using industrial LMOs.
The partial amendment to the Enforcement Decree of the LMO Act will be promulgated on the 8th and is scheduled to take effect six months after promulgation. The Ministry plans to promptly complete follow-up procedures such as revising the integrated notice and prepare for implementation.
Choi Namho, Director of Manufacturing Industry Policy at the Ministry of Trade, Industry and Energy, said, "With the growth of the white bio industry such as bioplastics, the industrial demand for genetically modified biological resources is expected to continue increasing. We hope this regulatory relaxation will serve as an opportunity to reduce corporate burdens and expand new investments."
Hot Picks Today
About 100 Trillion Won at Stake... "Samsung Strike Is an Unprecedented Opportunity" as Prices Surge 20% [Taiwan Chip Column]
- "Heading for 2 Million Won": The Company the Securities Industry Says Not to Doubt [Weekend Money]
- "Envious of Korean Daily Life"...Foreign Tourists Line Up in Central Myeongdong from Early Morning [Reportage]
- "Anyone Who Visited the Room Salon, Come Forward"… Gangnam Police Station Launches Full Staff Investigation After New Scandal
- Did Samsung and SK hynix Rise Too Much?... Foreign Assets Grow Despite Selling [Weekend Money]
In addition, the Ministry has reorganized the enforcement decree to better reflect reality, including ▲ subdivision of research facilities ▲ establishment of grounds for consignment of the Biosafety Information Center ▲ sunset clause repeal, among others.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.