Company storing 220,000 masks in bulk caught by police... Investigation into hoarding underway

[Asia Economy Reporter Lee Jung-yoon] Amid the spread of the novel coronavirus infection (COVID-19), a company found to be stockpiling a large quantity of KF94 masks has been identified, and the police have launched an internal investigation into whether this constitutes hoarding.

On the 2nd, the Suseo Police Station in Seoul announced that they identified a company located in Seongdong-gu, Seoul, and, together with officials from the Ministry of Food and Drug Safety, visited the site and discovered more than 220,000 children's masks.

The police are currently verifying with the Ministry of Food and Drug Safety and other related agencies whether the company's mask storage practices violate hoarding laws or emergency supply adjustment measures.

The Ministry of Economy and Finance prohibits and considers it a violation of emergency supply adjustment measures to store more than 150% of the average monthly sales volume of the previous year for over five days.

The police recommended that the company promptly distribute the discovered masks to the market, and it is reported that the company has accepted this recommendation.

A police official stated, "We are confirming whether such actions fall under the criteria for hoarding or violations of emergency supply adjustment measures, and whether there were unavoidable circumstances," adding, "Businesses stockpiling large quantities of masks should quickly distribute them to the market."

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