The Korea Health Functional Food Association announced on the 24th that it has appointed third-term deliberation committee members under Article 14 of the "Fair Competition Code for Health Functional Food Transactions."
At the appointment ceremony held on the 23rd at the association's headquarters in Pangyo, Seongnam, Gyeonggi Province, Park Ok-sung, Deputy Director of the Korea Consumer Agency, Min Yang-ki, Director of the Korean Medical Association and Professor of Neurology at Hallym University Kangnam Sacred Heart Hospital, and Jang Seung-hun, CEO of Boram Bio Co., Ltd., were appointed as committee members.
The association decided to form a five-member committee comprising officials from the Korea Consumer Agency, the Korean Medical Association, and corporate executives to enable swift monitoring and investigation of unfair practices such as informal prescriptions and provision of improper economic benefits. Two additional members are scheduled to be appointed later.
The committee will deliberate on violations of the fair competition code and may take necessary measures according to the code when violations are confirmed.
An association official said, "Establishing fair competition order and a transparent distribution environment is essential for the healthy growth of the health functional food market," adding, "We will faithfully operate the code together with the committee members to establish a responsible market culture and enhance consumer trust."
The "Fair Competition Code for Health Functional Food Transactions" was established by the Korea Health Functional Food Association and the Fair Trade Commission with the goal of establishing fair trading order in the health functional food market and guaranteeing consumer choice. It has been in effect since April 1, 2022, with detailed operational standards.