Government Assures No Mask Supply Issues... 115 Cases of Hoarding Detected

Kim Yong-beom, Vice Minister of Strategy and Finance, is presiding over the 'Meeting to Check the Progress of Measures to Prevent Market Disruption of Masks and Others' held at the Government Seoul Office in Gwanghwamun, Seoul, on the 13th, and delivering opening remarks.

[Asia Economy Reporter Kwangho Lee] The government expects no issues in the supply of raw materials for the production of health masks. According to government estimates, the maximum total daily production capacity of 123 domestic mask manufacturers is 10 million units, and most of the melt-blown nonwoven fabric (MB filter) required for production is produced domestically.

On the 13th, Kim Yong-beom, the 1st Vice Minister of Strategy and Finance, held a "Meeting to Check the Progress of Measures to Prevent Market Disruption of Masks, etc." at the Government Seoul Office and stated regarding the supply of raw materials needed for health mask production, "Currently, most of the MB filters required for producing around 10 million masks per day are produced domestically," adding, "We will closely monitor the supply situation of raw materials for health masks and respond to ensure there are no disruptions in production."

The meeting was held to review the progress of measures to prevent market disruption of masks and other items amid ongoing public anxiety about mask supply following the outbreak of COVID-19.

In particular, in line with the emergency supply adjustment measures for masks implemented from the 12th, the government reviewed the progress of various market stabilization measures to ensure that investigations into market disruption activities are conducted more systematically and thoroughly, and discussed future response plans.

Vice Minister Kim explained, "So far, to stabilize the supply of health masks, we have been actively responding through joint government inspection teams, enforcement of the prohibition on hoarding, strengthening export reporting, and other inter-agency efforts," adding, "We have detected 115 suspicious cases including hoarding of 1.05 million masks, filed complaints on 7 cases, and are conducting additional investigations on 70 cases."

He continued, "We will thoroughly investigate the 958 reports submitted by the public to the hoarding report center and take strong action if illegal activities are confirmed."

Furthermore, he emphasized, "The government will continue efforts to expand supply through public distribution channels such as Public Home Shopping, Nonghyup sales networks, and the Post Office Shopping Mall so that citizens can easily purchase health masks and other items."

Public Home Shopping will sell a total of 1 million masks without profit margin, with 470,000 units in February and 530,000 units in March. Nonghyup will supply 250,000 masks in the second week and 130,000 masks in the third week of February through Hanaro Mart and Nonghyup Mall. The Post Office Shopping Mall has already sold 150,000 masks in January and February and continues to secure additional quantities.