11st Directly Purchases and Sells 500,000 Masks to Stabilize Prices

[Asia Economy Reporter Seungjin Lee] 11st announced on the 4th that it will urgently purchase and sell 500,000 health masks, which are in short supply due to the spread of the novel coronavirus infection (Wuhan pneumonia).

Starting from 11 a.m. on the same day, 11st will sell 200,000 ‘BlueIndus KF94’ masks at the lowest online mall price level, 34,900 KRW per box of 50 masks. To allow more customers to purchase, each ID can buy only 2 boxes (100 masks). To enable customers to use masks quickly, same-day shipping is arranged for faster delivery.

Currently, 11st is negotiating with health mask sellers to secure additional quantities and plans to focus on selling masks every day at 11 a.m. until the 7th. These products will also be shipped on the same day to ensure prompt delivery to customers.

Considering the recent shortage of masks needed for infection prevention due to the ‘novel coronavirus’ situation and the rapid price increase, 11st has been striving to secure additional mask supplies since last week. The company plans to sell the secured masks at reasonable prices and contribute to market stabilization through smooth distribution.

Additionally, 11st is making efforts to prevent customer inconvenience and damage caused by sellers who abnormally raise mask prices or unilaterally cancel sales and delay delivery despite having available quantities. Sellers judged to be exploiting the novel coronavirus situation will be penalized or have their product exposure restricted according to internal policies.

Previously, 11st advised mask and hand sanitizer sellers to refrain from price increases and to inform customers in real time about product inventory and delivery status. The responsible MDs are actively monitoring delivery delays and sold-out products.

Lee Sang-ho, CEO of 11st, said, “Since last week, our MDs have been making every effort to secure mask supplies for customers who are anxious due to the recent novel coronavirus situation,” and added, “We hope that through 11st’s mask sales this week, customers can live with greater peace of mind.”

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