K-REACH and TCCA on Record Keeping Responsibility and Penalties

Today we compare Toxic Chemical Control Act and K-REACH on record keeping responsibility and penalties:

1.) Record Keeping Responsibility

According to the Toxic Chemical Control Act (TCCA), one whose application for manufacture/import notification or new chemical registration/exemption notification has been approved is required to keep related documents for five(5) years. K-REACH, one that would be in force in year 2015, requires the notifier/register to keep related records but the duration is not implicitly mentioned. However, we  prospect that the K-REACH may require the same number of years (five years) as TCCA and that more information would be available once enforcement regulations are announced.

2.) Penalties

TCCA levies less than five years of imprisonment or less than fifty million Won (approximately US$46,472.72 according to the September 23 currency) of fine to those who manufactures or imports a chemical without registration or notification. On the other hand, K-REACH levies more than five years or one hundred million Won (approximately US$ 92,945.44 according to the September 23 currency) of fine to those who manufactures or imports a chemical without registration.