150,000 Hoarded Masks to Be Released into the Market

On the 13th, as concerns over cluster infections of the novel coronavirus are spreading in the metropolitan area, office workers are seen wearing masks on their way to work at the Sejongno intersection in Jongno-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Choi Saeng-hye] Some producers and sellers who hoarded masks, which became scarce due to the spread of the novel coronavirus infection (COVID-19), have surrendered 150,000 hoarded masks on the condition that their punishment would be deferred. These masks are expected to be supplied to the market soon.

According to the Ministry of Food and Drug Safety on the 15th, during the five-day 'Special Voluntary Reporting Period for Hoarding' from the 10th to the 14th, a total of six voluntary hoarding reports were received as of 2 p.m. on the 14th. The quantity amounted to 150,000 masks.

Prior to this, the government implemented a five-day mask distribution system on the 9th and operated a 'Special Voluntary Reporting Period for Hoarded Masks.' This was a measure to release hoarded masks into the market.

During this period, those who voluntarily reported hoarding were granted immunity from prosecution, with their identities and anonymity guaranteed, and the contents of the voluntary reports were not to be provided to the National Tax Service for tax audit purposes.

The prosecution also decided to show leniency by deferring indictment for those who voluntarily report hoarding. Currently, if mask hoarding is detected, offenders face imprisonment of up to two years or fines up to 50 million won.

The masks identified through the reports will be purchased by the Public Procurement Service at a fair price reflecting the purchase price and warehouse costs reported by the informants, and then supplied to the market. As the voluntary reporting period ends, the government plans to strictly crack down on and punish hoarding activities with a zero-tolerance policy through joint efforts of related ministries.

The prosecution also stated that cases detected after the voluntary reporting period will be strictly handled, actively reflecting the failure to report during the period in sentencing and disposition, including conducting investigations with detention. As of 2 p.m. on the 14th, the number of illegal activities detected, including hoarding and bundled sales, totaled 333 cases.

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