<삭제>[Bulletin Board] Customs Service and other government agencies, cosmetics industry sign MOU to combat K-beauty counterfeits

<삭제>[Bulletin Board] Customs Service and other government agencies, cosmetics industry sign MOU to combat K-beauty counterfeits

▲ The Korea Customs Service announced on the 10th that it has signed a government-industry memorandum of understanding (MOU) with the Ministry of Food and Drug Safety, the Intellectual Property Office, and the Korea Cosmetics Association to combat counterfeit products. This agreement was prepared as the problem of counterfeit K-beauty cosmetics, which are popular worldwide, grew. As of 2021, the scale of counterfeit products infringing on the intellectual property rights of Korean companies is 11.1 trillion won (9.7 billion dollars), and the proportion of cosmetics based on customs seizure value in 2020-2021 is 10%. This ranks third after electronic products, textiles, and apparel. In the future, the government and the Korea Cosmetics Association plan to regularly operate a public-private consultative body to facilitate information sharing, monitoring, and educational cooperation regarding the distribution of counterfeit cosmetics. (Sejong = Yonhap News)