Prosecutors Conduct Search and Seizure at Manufacturers and Distributors Accused of 'Mask Hoarding'

[Asia Economy Reporter Song Seung-yoon] The prosecution has launched a forced investigation targeting health product companies suspected of hoarding masks amid the spread of the novel coronavirus infection (COVID-19).

The Seoul Central District Prosecutors' Office's "Special Investigation Team for Distribution Disruption Offenders of Masks and Other Health Products" (led by Jeon Jun-cheol, Head of the Anti-Corruption Investigation Division 2) dispatched inspectors and investigators on the morning of the 6th to several mask manufacturing and distribution companies in the metropolitan area to secure production and transaction records of masks and other items.

The prosecution reportedly initiated the forced investigation after uncovering evidence that these companies hoarded masks, violating the Price Stabilization Act. The Price Stabilization Act stipulates that those who violate the government's emergency supply adjustment measures or engage in acts designated as hoarding by the Ministry of Economy and Finance shall be punished with imprisonment of up to two years or a fine of up to 50 million won.

The prosecution plans to apply charges under the Tax Offense Punishment Act and impose penalties if evidence of undocumented transactions by the companies is revealed.

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