Middlemen Aiming for Quick Profits
Government Bulk Supply and Crackdown
Rapid Online Clearance of Stock
[Asia Economy Reporters Kwangho Lee, Gwanju Lee, Minyoung Cha] As the government tightens crackdowns to resolve the 'mask hoarding' issue, it has been revealed that middlemen are offloading hoarded masks at low prices through online direct transaction services.
On the 28th, a search for the keyword 'KF mask' on Junggonara showed a total of about 50 mask sale posts from the previous day until 10:30 a.m. that day. Masks that were previously impossible to find are now being sold by the box. One seller is offering two boxes of 20 masks each from the well-known manufacturer 3M for 45,000 won. This amounts to about 1,125 won per mask. Some sellers posted more than three listings using the same ID. This seller was selling masks in units of 300 pieces at 1,300 won per mask.
On Danggeun Market, new posts appeared that day offering 'dustproof masks in boxes of 20' and 'small disposable nonwoven fabric masks in packs of 50.' One user lowered the price of masks previously sold for 40,000 won to half, 20,000 won. This is interpreted as middlemen rushing to dispose of hoarded stock.
The release of hoarded mask stock is due to the government's active crackdown. The government mobilized investigative agencies including the National Tax Service to conduct investigations and inspections of mask-related companies and distribution channels. Starting at 10 a.m. that day, the National Tax Service began a simultaneous inspection of 12 manufacturers of MB filters (melt-blown nonwoven fabric), a key material used inside health masks. The National Tax Service deployed a total of 24 personnel in pairs of two per company on site. If violations such as undocumented transactions or tax evasion disrupting trade order are found, the companies will be immediately selected for tax audits.
The National Police Agency also announced that it would operate a special crackdown team to curb distribution order violations related to masks. The special crackdown team is organized and operated across 18 provincial police agencies and 255 police stations nationwide. The police have identified 152 mask production factories nationwide and formed dedicated teams at the respective police stations. One cyber investigation team from the provincial police agencies has been designated as the special crackdown team to monitor and crack down on activities that disrupt distribution order, such as mass mask purchases using macro programs.
In cooperation with the government-wide joint crackdown team involving the Ministry of Food and Drug Safety, the National Tax Service, and the Fair Trade Commission, the effectiveness of the crackdown will be enhanced, and administrative penalties such as fines will be imposed on violations. Currently, 30 police investigators are dispatched to the government-wide joint crackdown team on mask hoarding, and 152 police officers are dispatched to the emergency supply adjustment joint crackdown team.
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