Exposure to the wide variety of chemicals used for manufacturing consumer products commonly occurs daily and the consequences to health are beneficial. However, some of these products are hazardous and exert deleterious effects on humans and the ecosystem. To protect consumers from exposure to hazardous chemicals, appropriate risk management systems are needed. Developed countries such as the United States and Canada have developed their own risk management systems for regulating hazardous agents. However, the risk management systems prepared by developed countries may not be readily applicable to developing or underdeveloped countries because of certain economic, political, cultural, or social factors in each country. In general, a risk management framework includes evaluation components of risk assessment, risk confrontation, risk intervention, risk communication, and risk management, but these may differ in specifics. The European Commission (EC) requires a socioeconomic analysis for formulating restrictions suggested by the European Chemicals Agency (ECHA). The EC has an early warning system for safety management termed the Rapid Alert System (RAPEX). Korea, Australia, and Japan also developed integrated network systems for risk management of consumer products. Monitoring entails the collection of information and evaluation. The risk assessment process includes scientific evaluation of potential adverse health effects. Risk communication tasks are to (1) identify stakeholders, (2) develop stakeholder analysis, (3) assess stakeholder acceptability, (4) consult with stakeholders, (5) inform stakeholders about their options, (6) evaluate control options, and (7) monitor changing issues. The risk management process involves weighing policy options and selecting regulatory options. The decision-making step is related to the determination of governmental or voluntary actions. This review examines the critical points of risk management system in Korea to effectively control hazardous agents for human safety and compliance with global harmonization.