According to Korean media reports, the Ministry of Health and Welfare is preparing a proposition of law, with the aim to have the new regulation effective in December this year.

The measure is presented as an action against excessive margins made by sole importers of high-end foreign perfumes and cosmetics. An article published today on the website of the Korea Times, authorities claim the new measure will naturally bring down prices by as much as 20 to 30 percent, while industry representatives expressed fears regarding the fact that parallel imports will open the door to counterfeited products.