▲ Prime Minister Kim Min-seok (L) speaks during the fifth meeting of the emergency economic headquarters at the government complex in Seoul on April 15, 2026, to discuss the government's response to the Middle East crisis. (Yonhap)

PM-hoarding

PM orders crackdown on hoarding amid Middle East-related supply concerns

By Lee Haye-ah

SEOUL, April 15 (Yonhap) -- Prime Minister Kim Min-seok instructed the government Wednesday to crack down on the hoarding of critical items, such as medical syringes and petrochemical feedstocks, amid supply concerns stemming from the Middle East conflict.

Kim gave the instruction during an emergency economic headquarters meeting, one of several bodies launched to coordinate the government's response to the war.

"The emergency economic response system must continue to be operated steadfastly," he said, citing the fragile state of the ceasefire between the United States and Iran.

Under government measures imposed Tuesday and Wednesday, stockpiling medical syringes and needles and key petrochemical feedstocks, such as ethylene, propylene and butadiene, has been banned due to concerns about shortages.

"I ask relevant ministries to strictly crack down on hoarding behavior that disrupts the market order," the prime minister said.

"In order for the people and businesses to trust the government and to create an environment where people refrain from hoarding, adjusting the supply and demand of necessary items is very important," he added, calling for special attention to be paid to the issue.

The prime minister also called for every effort to be made to smoothly execute a 26.2 trillion-won (US$17.7 billion) extra budget passed by the National Assembly last week, which includes cash assistance to the bottom 70 percent of income earners.

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