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South Korea Moves to Prevent Hoarding
(MENAFN) South Korea on Wednesday directed authorities to intensify measures against the stockpiling of essential goods, including medical syringes and petrochemical raw materials, due to rising supply worries linked to the ongoing conflict in the Middle East, a news agency reported.
Prime Minister Kim Min-seok issued these directives during an emergency economic headquarters session, one of several groups established to organize the government’s reaction to the US-Israel war involving Iran.
Officials have prohibited the accumulation of medical syringes and needles, along with major petrochemical inputs such as ethylene, propylene, and butadiene, citing concerns over potential shortages.
"I ask relevant ministries to strictly crack down on hoarding behavior that disrupts the market order," the prime minister said.
Kim further urged full efforts to ensure the effective implementation of a 26.2 trillion-won ($17.7 billion) supplementary budget approved by the National Assembly last week, which provides financial aid to the lowest 70% of income earners.
Prime Minister Kim Min-seok issued these directives during an emergency economic headquarters session, one of several groups established to organize the government’s reaction to the US-Israel war involving Iran.
Officials have prohibited the accumulation of medical syringes and needles, along with major petrochemical inputs such as ethylene, propylene, and butadiene, citing concerns over potential shortages.
"I ask relevant ministries to strictly crack down on hoarding behavior that disrupts the market order," the prime minister said.
Kim further urged full efforts to ensure the effective implementation of a 26.2 trillion-won ($17.7 billion) supplementary budget approved by the National Assembly last week, which provides financial aid to the lowest 70% of income earners.
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