05 February 2020 – Announced penalties on hoarding medical masks

This item is sourced from COVID-19 Policy Watch co-ordinated by Policy. We are in the process of gathering further information and aligning taxonomies for these items.

Intervention Categories: Legal and policy; Regulatory change
Level of Jurisdiction: National

Overview: The Ministry of Economy and Finance announced fines of up to 50 million won (US$ 41,000) or up to two years in prison for mask sellers with more than 150 percent in inventory of their previous year”s average monthly sales, for a period greater than five days.

The measures were enacted to prevent price gouging amidst increasing demand for masks.
Full details here: http://english.moef.go.kr/pc/selectTbPressCenterDtl.do?boardCd=N0001&seq=4832