Draft List Of The First Batch Of Designated Registered Substances Announced By South Korea REACH

The Ministry of environmental affairs of Korea (MOE) announced the first batch of registered chemical substances list (hereinafter referred to as the first batch list), totaling 518 substances.

If the annual export to Korea is greater than or equal to 1 tons, it is necessary to fulfill the registration and other related obligations under K-REACH in time.

Act on Registration and Evaluation etc. of Chemical Substance referred to as K-REACH, is the needle in Korea.

A regulation governing, evaluating, restricting and disabling.

The material scope for fulfilling its registration obligations mainly includes: the existing chemistry requiring registration (the three batch of designated registered substances list) and all new chemical substances (except exemption clauses).

The first batch refers to the list of the first batch of substances that need to be registered.

The industry and substance involved in the first list

The draft has formulated 518 kinds of existing substances that need to be registered. The industries involved include chemical industry, oil, textile, leather, pigment, dyestuff, washing, fuel, pesticide, fertilizer, wood processing, toys and so on.

Complete registration and other related duties, such as annual reports, during the buffer period.

Interested parties need to check whether their products are listed in the list, confirm and fulfill their annual report registration (data sharing, testing, file production, etc.) responsibilities and obligations.

Related links:

South Korea's Ministry of finance, Ministry of industry, commerce and resources, and the Bank of Korea (central bank) and other major government departments convened an economic Chief meeting to finalize and announce the specific plan for establishing the direct trading mechanism of the Korean won and RMB.

A head of the Ministry of Finance said that the ROK government will actively encourage Korean enterprises to use RMB settlement in trade with China, and strive to increase the proportion of RMB settlement in bilateral trade from 1.2% to 20%.

At present, the two countries mainly use US dollar settlement in bilateral trade, accounting for 95% of the total.

The official said that the investigation results released by the people's Bank of China and HSBC showed that in the bilateral trade between Korea and China, South Korean enterprises could enjoy 3% to 5% discount if they settled trade with RMB.

If the proportion of RMB settlement in Sino Korean trade is further improved, the number of Chinese inland enterprises that will trade with Korean enterprises will increase significantly, and the volume of trade between Korea and China will also increase.

It is reported that the Korean government will establish the Korean won and RMB direct trading mechanism in December.

In July 2014, South Korean President Park Geun hye held a summit meeting with Chinese President Xi Jinping, and agreed to establish a direct trading mechanism between the won and the renminbi.

The government's decision is a concrete plan for this agreement.