Kim Yong-beom, Vice Minister, "Daily Inspections to Be Conducted Extensively for Stable Mask Supply"

[Asia Economy Reporter Kwangho Lee] Kim Yong-beom, the 1st Vice Minister of the Ministry of Economy and Finance, said on the 28th, "To stabilize the mask supply market, a large-scale daily on-site inspection by the entire government will be implemented."

On the morning of the same day, Vice Minister Kim held the "Inter-Ministerial Inspection Meeting on the Promotion Status of Measures to Prevent Market Disruption of Masks, etc." at the Government Seoul Office Building and stated, "Starting today, a joint on-site inspection team composed of ministries will be formed and operated to inspect manufacturers, public sales outlets, and others until the mask supply stabilizes."

Vice Minister Kim explained, "The emergency supply adjustment measure came into effect on the 26th," adding, "Although it took 1 to 2 days to establish the supply system, we are now laying the foundation to distribute about 5 million masks to the market starting today."

He emphasized, "We will complete the supply system setup in the shortest possible time and work together to minimize confusion by announcing sales plans through websites for each sales outlet."

Vice Minister Kim mentioned, "We will continue to crack down on hoarding of masks, violations of export restriction measures, and other acts, and will detect and punish market disruption acts to the end," adding, "The government will also consider solutions to difficulties and seek support measures so that companies can increase production to the maximum."

He also stated, "It is realistically difficult to set mask prices at the pre-COVID-19 outbreak level," but "we will minimize intermediate distribution costs and supply masks at the most reasonable prices under the current circumstances."

He added, "Once 5 million masks are stably supplied daily as public stock, excessive demand caused by mask supply instability will gradually ease, and prices formed in the market will also decrease."

After the meeting, Vice Minister Kim visited pharmacies around the Seoul Central Post Office building with attendees to check the mask supply situation.