Chungnam Province Cracks Down on Unfair Trade Practices Involving Masks and Hand Sanitizers

[Asia Economy (Naepo) Reporter Jeong Il-woong] Chungnam Province will crack down on unfair trade practices involving masks and hand sanitizers.

The province announced on the 3rd that it will focus on cracking down on unfair price increases and hoarding that may occur as demand for items such as masks and hand sanitizers rises due to the spread of the novel coronavirus infection (Wuhan pneumonia).

The crackdown will be conducted by the province and each city and county operating price countermeasure situation rooms, forming their own inspection teams to visit local pharmacies and convenience stores to check for unfair price increases, hoarding, and compliance with price labeling regulations for products such as masks and hand sanitizers.

Considering the concerns about unfair trade practices, the province also proposed to the Ministry of Economy and Finance the designation of maximum prices for related items and a notice banning hoarding activities.

Kim Seok-pil, Director of the Province's Economic Office, said, “Considering the rapid increase in demand for masks and other items, we will do our best to stabilize the prices of these products.”

This content was produced with the assistance of AI translation services.