According to Yonhap news agency, South Korea's Ministry of planning and Finance said on April 4 that the government will implement the "notice on banning the hoarding of sanitary masks and disinfectants" from April 5 to April 30, and those who violate the notice will be sentenced to less than two years' imprisonment or a fine of less than 50 million won (about 300000 yuan).
The move is aimed at cracking down on hoarding of protective equipment for huge profits during epidemic prevention. According to the circular, the inventory of masks and disinfectants of producers and sellers exceeding 150% of their average sales volume in the previous month and the last five days will be regarded as hoarding behavior. If hoarding is found, it can be reported to the food and drug safety department, the municipal and Taoist government reporting center and other competent departments.
At the end of last month, the South Korean government, together with the food and drug administration, the Fair Trade Commission, the State Administration of Taxation and other relevant departments, set up 30 special groups and sent 120 people to carry out special actions against hoarding. This time, we will work together with the police department and the customs to expand the number of input personnel to 180 and crack down on the hoarding of masks and disinfectants.
South Korea's Ministry of planning and Finance said the government will take strong measures to punish illegal acts such as hoarding and market prices.
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