NEWS BRIEF

[Anchor Lead]

The government has stressed that if it detects any market disturbing acts regarding 20 percent of the private sector supply of face masks, it will cap the price level and also punish for-profit activities. When authorities discover volumes of masks that were hoarded for sale at a later time, they will be immediately supplied to the public. Related agencies including the police, the Korea Customs Service and the National Tax Service will join efforts in the clampdown.
Investigators at the Seoul District Prosecutors Office on Friday conducted a raid of face mask manufacturers and distributing firms. The raid targeted around ten companies most of whom are located in metropolitan Seoul.
S. Korea's National Security Council held a meeting Friday morning discussing Japan's recent decision to tighten entry procedures and restrictions from South Korea. The top national security officials discussed ways to respond to Japan's recent decision and also decided to make a firm complaint regarding their move.
Finance Minister Hong Nam-ki has pointed out that the increasing entry restrictions imposed on South Korea over coronavirus concerns may restrict economic activity such as trade and investment. He said the government will respond in a preemptive, swift and accurate manner in accordance with its prepared contingency plan when fluctuations in the financial and foreign exchange markets are deemed excessive.