Public Procurement Service Secures 84.8 Billion Won in Supplementary Budget for Mask Supply Stabilization and Company Support

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Public Procurement Service has secured additional budget to stabilize mask supply and provide incentives to mask manufacturers.

On the 18th, the Public Procurement Service announced that it secured 84.8 billion KRW for the 'Mask Stockpiling and Management Support Project' at the National Assembly plenary session the previous day.

This budget is part of the 11.7 trillion KRW supplementary budget passed by the National Assembly plenary session this year and will be primarily used to stabilize the supply of masks, which have become scarce due to the novel coronavirus infection (COVID-19).

Specifically, the budget allocates 75.8 billion KRW for mask purchases (including MB (Melt Blown) filters), 8.58 billion KRW for production incentives during nights, weekends, and holidays, and 420 million KRW for securing additional private warehouses to be used in emergencies such as COVID-19.

The mask purchase budget will be used to stockpile 100 million masks in preparation for emergencies such as COVID-19 and to support the import of MB filters, essential raw materials for mask production. It will also be used for purchasing and stockpiling depending on future mask supply conditions.

The production incentive support was prepared to provide production bonuses enabling manufacturers to produce masks on weekends, holidays, and nights despite adverse conditions such as recent increases in raw material and labor costs. The bonus will be paid at 50 KRW per health mask.

Additionally, the Public Procurement Service plans to lease private warehouses besides its own to enable rapid supply tailored to regional mask demand distribution, proximity to manufacturers, and logistics systems in preparation for emergencies.

Jung Moo-kyung, Administrator of the Public Procurement Service, said, “The supplementary budget is primarily allocated to stably supply masks to citizens facing difficulties in purchasing due to the spread of COVID-19. The Public Procurement Service will continue to make every effort to stabilize mask supply in emergencies such as COVID-19.”

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