Kim Yong-beom, Deputy Minister of Economy and Finance, "Will Designate 'Mask Price Ceiling' if Necessary"

Kim Yong-beom, First Vice Minister of Strategy and Finance, is delivering opening remarks while presiding over the 3rd Innovation Growth Strategy Review Meeting and Policy Review Meeting held at the Government Seoul Office Building on the 6th.

[Asia Economy Reporter Jusangdon] Kim Yong-beom, First Vice Minister of the Ministry of Strategy and Finance, stated on the 6th, "If necessary, we will designate a maximum price without delay." He reiterated the policy of reviewing the 'maximum price designation' mentioned in the previous day's announcement of the 'Mask Supply Stabilization Measures.'

On the morning of the same day, Vice Minister Kim presided over the '3rd Innovation Growth Strategy Review Meeting and Policy Review Meeting' at the Government Seoul Office, saying, "We will never tolerate market disruption activities."

Vice Minister Kim emphasized, "Anticipating a price surge, there may be intentional stockpiling through mask hoarding and speculative buying," and added, "The government will severely punish such market disruption." He also urged related ministries, including the National Police Agency, Korea Customs Service, and National Tax Service, to actively carry out their duties along with the voluntary cooperation of the public.

At this meeting, Vice Minister Kim also requested all ministries to ensure the flawless implementation of the mask supply stabilization measures. He said, "To quickly deliver masks, which are absolutely in short supply, to the public, all ministries must work in perfect coordination as one body," and added, "Please do your utmost to prevent even the slightest disruption."

He also called for meticulous policy implementation of sector-specific response plans prepared to minimize damage from the novel coronavirus infection (COVID-19) crisis. Vice Minister Kim stated, "We will listen carefully to voices from the field to promptly identify difficulties arising in policy implementation and enhance the effectiveness of policies," and added, "We plan to continue reviewing support status by sector and industry through meetings such as the Economic Vitality Measures Meeting, and if necessary, we will devise additional measures."

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