SINGAPORE, May 10, 2023 /PRNewswire/ -- On 29 March, on the margins of the In-Cosmetics Barcelona trade fair, the International Fragrance Association (IFRA) and the Korea Cosmetics Industry Institute (KCII) signed a three-year Memorandum of Understanding (MoU). The parties to the agreement look to exchange information on Korea's cosmetics regulation and its impact on the fragrance sector.

"This MoU is an important opportunity to build further trust and cooperation between IFRA and KCII", said Martina Bianchini, President of IFRA and signatory of the MoU on behalf of the association. "We look forward to exchanging knowledge and together analyzing the impact of the Korea cosmetics regulation, specifically with regards to risk management".

The IFRA Standards promote the safe use of fragrance, and the MOU will inform Korean efforts to boost domestic cosmetics safety management - in addition to regulatory engagement.

"Through this MOU agreement, we will be able to provide the fragrance industry in Korea with an abundance of information on risk management for fragrance ingredients," said Lee Jae Ran, President KCII. "In addition, we will continue to embark on partnerships and business agreements with various institutions that could help elevate companies in Korea."

IFRA Board members participated in the cooperation agreement, including working with KCII researchers. The IFRA President also suggested that there could be a variety of activities, such as assessment of policies that impact the fragrance industry. KCII plans to share a range of information, such as data on Korea's cosmetics regulations, fragrance safety and trends, as well how changes to the IFRA's Standards will affect the domestic sector.

In an effort to generate knowledge, education and close data gaps, IFRA, in collaboration with its National Member Association KFFI and KCII will also jointly interpret emerging policy developments in cosmetics regulation in Korea as they relate to fragrance ingredients. The organisationsjointly assess the impacts of such fragrance-related developments and appropriate response strategies".

Notes for editors

About IFRA

The International Fragrance Association, founded in 1973, represents the interests of the fragrance industry worldwide. IFRA comprises seven multinational Regular Members and 23 national associations in four global regions representing hundreds of small and medium-sized fragrance manufacturers, as well as supporting members. Its mission is to promote the safe use of fragrance for everyone's enjoyment.

Fragrances are a key platform technology used by consumer goods companies - for fine fragrances, personal care products, household care and more.

IFRA's flagship safe use program, the IFRA Standards, applies safety management measures based on scientific assessment and the evaluations of an independent Expert Panel. The program is at the heart of the IFRA Code of Practice, which applies to all IFRA members globally, including members of IFRA's national associations. The Code also requires members to abide by local, national and international regulation, and to apply good manufacturing practices.

About Korea Cosmetics Industry Institute(KCII)

Founded in 2010, the Korea Cosmetics Industry Institute (KCII) is a subsidiary organization under MoH for promotion of K-beauty industry, which includes government support for various industrial developments. It is the only cosmetics research institution in Korea established with the joint participation of the Ministry of Health and Welfare, local governments, and private sector to enhance the international competitiveness of the Korean cosmetics industry and improve public health.

The KCII's board of directors consists of the Ministry of Health and Welfare, the Ministry of Food and Drug Safety, the Korea Cosmetics Association, and major domestic cosmetics companies, and experts in each field are constantly striving for industrial growth.

In particular, KCII is providing programs safety research and support system establishment, quality inspection, global cosmetics industry research and analysis, professional trainings, established a global skin characteristics data bank, and steadily partnering with leading cosmetics organizations on a global basis.

Meanwhile, Lee Jae-ran, president of KCII, has worked at the Ministry of Health and Welfare of the South Korea for more than 30 years and has been leading the KCII since 2021 based on a high understanding and expertise in the health industry.