- March 2, 2018
South Korea Revises K-REACH Rules
The environment committee of the South Korean National Assembly has approved a draft law submitted by the environmental ministry to amend K-REACH. The committee made two crucial changes to the draft.
First, the fines for non-registration of chemicals have been increased dramatically. Instead of 2% of gross sales (as originally suggested by the environmental ministry), companies must now pay 5% of their gross sales as a fine. In especially serious cases, up to five years of imprisonment is threatened. Second, all substances that pose a danger to the environment and health must be registered if they are imported into South Korea in a total quantity greater than one ton. The emphasis on the total quantity was important to the committee to prevent misuse by splitting imports quantities across shipments.
The regulation is to go into effect on July 1, 2018.
CONTINUE READING ON kft-blog.com