South Korea launches ‘K-brand’ scheme to fight counterfeits
The K-Brand Government Certification System lets consumers check product authenticity by scanning a QR code with their mobile phones.
South Korea has introduced a new "K-brand" authentication system to combat counterfeit goods and protect its burgeoning cultural industry. President Lee Jae Myung announced the system, which enables consumers to verify product authenticity via a QR code, following the success of K-pop, K-dramas, and K-beauty products. These Korean cultural exports generated $14.9 billion in revenue in 2023, surpassing computer and appliance sales.
K-beauty and K-food products alone reached record highs of $12.4 billion and $11.4 billion, respectively. The president emphasized that Korean companies are facing growing damage from counterfeit products overseas. Thirty-one companies, including food producer Samyang Foods and cosmetics giant Amorepacific, have already signed up for the K-Brand Government Certification System.
The system aims to safeguard Korean brands and enhance the country's tourism, which saw a record 18.94 million foreign visitors in 2023.
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