JEJU-DO < invest Korea

According to Newsis,

Jeju Special Self-Governing Province announced that the provincial authority-led business project to form an open platform, upon which cosmetic brands can source ingredients supplied in Jeju Island, was picked out one of national development plan, sponsored by National Information Society Agency (NIA) and the Ministry of Science and ICT (MSIT) on Mar 10.

With KRW 1.5 billion budgets financed by the government, the provincial government is set to build up the platform, where information freely available on the web and data resources can be utilized to create innovation-driven services in the private sector, by the end of this year.

With blockchain database, the authorities will manage processing history of cosmetic ingredients by each production stage and digitize the overall procedure to acquire cosmetic certification and labels, along with information on safety. Sharing manufacturing infrastructure with the private sector, they’ll advance productivity and efficiency in personal care product manufacturing, through which businesses are able to develop business ecosystem.

NIA is scheduled to pick out the shortlistee in the April-May period, and make the service fully underway next year once the formation of the platform comes to an end in December.

Source Text

Copyrights Newsis. All Rights Reserved.
Reprint or redistribution without permission is prohibited.

Source: Newsis (Mar 10, 2021)