Economic Circle Welcomes Yoon Administration's 'First Killer Regulation' Amendments to the Chemical Safety Act and Chemical Management Act Passing in the National Assembly

Statement by Six Economic Organizations
"Amend Subordinate Legislation and Notices to Improve Corporate Sentiment"

The six economic organizations expressed their welcome as the "Chemical Substances Registration and Evaluation Act" (Chemicals Evaluation Act) and the "Chemical Substances Control Act" (Chemicals Control Act) passed the National Assembly plenary session on the 9th.

The Korea Chamber of Commerce and Industry, Korea Employers Federation, Korea Federation of Employers, Korea International Trade Association, Korea Federation of Small and Medium Business, and Korea Federation of Medium-sized Enterprises issued a joint statement on the day, saying, "We welcome the passage of the government's 'No. 1 killer regulation' amendment bills for the Chemicals Evaluation Act and Chemicals Control Act at the National Assembly plenary session."

The amendment to the Chemicals Evaluation Act includes easing the registration criteria for hazardous information from 0.1 tons to 1 ton when companies manufacture or import new chemical substances. The amendment to the Chemicals Control Act focuses on differentiating regulations according to the hazard and handling volume of chemical substances.

On the 9th, the National Assembly plenary session passed the "Special Act on the Termination of Breeding, Slaughter, and Distribution of Dogs for Food Purposes." Photo by Hyunmin Kim kimhyun81@

The six economic organizations stated, "We expect a transition to more rational regulations with this amendment to the Chemicals Evaluation Act and Chemicals Control Act," adding, "Since companies cannot practically feel the effects of chemical regulation reform by the amendment alone, prompt follow-up measures such as revising subordinate laws and ordinances must be taken."

They also said, "The business community fully sympathizes with the purpose and necessity of the law from the perspective of producing and utilizing chemical substance information and proper management," and added, "We will strive to create safe workplaces free from hazardous chemical substances and fulfill our responsibility to protect public health and the environment."

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