Gyeonggi Province to Support Registration Fees for Exporters in Response to U.S. Cosmetics Regulations

The Gyeonggi Provincial Government will provide up to 2 million KRW per company to support product registration fees for small and medium-sized cosmetics exporters in the province in response to U.S. cosmetics regulations (MoCRA).

This initiative was established to address the recent strengthening of U.S. protectionism and the implementation of the U.S. Modernization of Cosmetics Regulation Act (MoCRA) since July 2023.

MoCRA is a law that mandates the registration of products and manufacturing facilities, as well as proof of safety, with the U.S. Food and Drug Administration (FDA) for all cosmetics distributed in the United States. Due to its complex procedures and costs, it has become a substantial entry barrier for domestic small and medium-sized enterprises.

Gyeonggi Provincial Government

Eligible companies are small and medium-sized cosmetics enterprises with business sites or factories in Gyeonggi Province and export records of 20 million USD or less in 2024. A total of 50 companies will be selected, and each will receive up to 2 million KRW to cover costs required for MoCRA registration.

Park Kyungseo, Director of International Trade at the Gyeonggi Provincial Government, stated, "We are supporting MoCRA registration so that companies in the province can continue to export stably, even amid trade crises originating from the United States," adding, "We expect this support program to be of great help in responding to export regulations not only in the U.S. but also in other overseas markets."

This content was produced with the assistance of AI translation services.