MFDS "Mask Prices Remain Stable"…Mask Manufacturers Increase 3.6 Times This Year

On the 17th, about fifteen days before the Chuseok holiday, a notice for mandatory mask-wearing was installed at Mangwon Market in Mapo-gu, Seoul. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Seo So-jeong] The Ministry of Food and Drug Safety (Minister Lee Ui-kyung) announced on the 22nd the supply and demand trends of mask production for the 3rd week of September (September 14th to September 20th), stating that medical masks are being supplied smoothly.

The total production of medical masks in the 3rd week of September was 284.52 million units, consisting of ▲190.64 million health masks (KF94) ▲71.52 million droplet-blocking masks ▲22.36 million surgical masks.

Mask prices have also remained stable both online and offline. The selling price of KF94 health masks recorded 1,149 KRW online on the 10th but showed a downward trend to 1,109 KRW as of the 17th. Offline prices were similar, moving from 1,576 KRW on the 10th to 1,578 KRW on the 17th.

The selling price of droplet-blocking masks was also similar, with online prices at 633 KRW and offline prices at 713 KRW on the 10th, and online 643 KRW and offline 717 KRW on the 17th.

The number of manufacturers and approved items for medical masks has continuously increased since January this year.

The number of mask manufacturers rose approximately 3.6 times from 137 companies in January to 489 companies currently. Approved items increased about 2.5 times from 1,012 items in January to 2,485 items currently. Reviews for mask item approvals are currently underway for 327 health masks, 215 surgical masks, and 628 droplet-blocking masks.

An official from the Ministry of Food and Drug Safety stated, "Domestic mask production is smooth, and prices remain stable," adding, "We will continue to monitor market trends such as mask prices and production volumes, and will strictly take action against unfair trade practices such as hoarding and panic buying that disrupt market order."