Consumers will soon be able to access basic product information, including ingredients and nutritional content, by searching product barcodes on the Consumer 24 platform. This initiative is a collaboration between the Ministry of Trade, Industry and Energy, the Fair Trade Commission, the Korea Chamber of Commerce and Industry, and the Korea Consumer Agency, which is linking a database of over 400,000 product information entries to the consumer protection system.
On September 29, the Ministry and the Fair Trade Commission signed a memorandum of understanding at the Korea Chamber of Commerce and Industry in Seoul to create a safer retail environment and promote the retail industry. The agreement aims to establish a continuous cooperation system among the Ministry, the Fair Trade Commission, and related organizations.
This collaboration comes as the retail environment rapidly shifts towards online and platform-based models, and the need for innovation in the industry alongside consumer protection has become increasingly urgent. The four organizations will work together on joint policy initiatives, regulatory improvements, the promotion of self-regulation and compliance within the retail sector, consumer protection projects, and data and system integration.
Initially, the product information database operated by the Ministry and the Korea Chamber of Commerce and Industry will be linked to the Fair Trade Commission's consumer portal, Consumer 24. The product information database includes approximately 50 categories of information for over 400,000 products, such as product names, certification details, and ingredients. Consumer 24 currently provides around 10 million entries of basic product information, including safety, recalls, certifications, and comparison data.
Once the system integration is complete, consumers will be able to view basic product information, ingredients, and nutritional content on a single screen by simply searching for a barcode on Consumer 24.
Currently, Consumer 24 consolidates certification information from various agencies, including KC certification. By linking with the Korea Chamber of Commerce and Industry's product database, the range of accessible safety and certification information, along with detailed information on actual retail products, will be expanded.
A 'Retail Industry Cooperation Council' will also be established for ongoing policy discussions. The directors of the Ministry and the Fair Trade Commission will serve as co-chairs, identifying joint policy initiatives and regulatory improvements related to the Large-Scale Retail Business Act and the Retail Industry Development Act. Collaborative projects on expanding self-regulation and consumer protection and product safety education will also be discussed.
Park Dong-il, head of the Ministry's Industrial Policy Office, stated, "Innovation in the retail industry and consumer protection are not separate issues but two pillars of retail policy that must be pursued together. We will strengthen cooperation to establish a sound retail order based on autonomy and responsibility through this agreement."
Shin Dong-yeol, head of the Fair Trade Commission's Secretariat, remarked, "Consumers are facing increased burdens due to information asymmetry and imbalances in growth among distribution channels. We will take the lead in creating a retail environment where consumers can transact with confidence based on accurate information."
* This article has been translated by AI.
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