Update on Regulatory System under Discussion in the Wake of Amendments to the four Product Safety Acts

On 26 June 2024, amendments to the four product safety acts (Product Safety Acts) were promulgated. The development of a system based on the amendments has since been under discussion targeting a date some time in December 2025 for its entry into force. This Client Alert introduces the major amendments to the Product Safety Acts, summarizes the discussions that have been taking place on the development of the system associated with them and proposes practical measures companies may wish to take in response.