MFDS uncovers hoarding of 4.11 million masks... Accused company reported
[Asia Economy Reporter Kim Heung-soon] The Central Investigation Unit for Harmful Acts under the Ministry of Food and Drug Safety announced on the 13th that it has uncovered a company in Gwangju, Gyeonggi-do, that hoarded 4.11 million masks by taking advantage of the shortage of health masks caused by COVID-19.
According to the investigation, this company concentrated on purchasing masks from January 1st of this year until the 10th of this month, storing 4.11 million masks worth approximately 7.3 billion KRW, which accounts for 41% of the maximum daily production volume of 10 million masks. The Ministry of Food and Drug Safety plans to file charges against this company after further investigation. Under relevant laws, the company faces up to two years imprisonment, a fine of up to 50 million KRW, or an administrative fine of up to 10 million KRW.
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The Ministry stated that it will strictly deal with violating companies through joint government crackdowns to eradicate abnormal distribution practices. Additionally, it urged the public to actively report illegal activities such as hoarding, failure to report, and manipulation of transaction volumes through the 'Health Masks and Hand Sanitizers Hoarding Report Center.'
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