Han Orders Crackdown on Hoarding as Middle East Conflict Raises Supply Concerns
Key Takeaways
- •Han Seong-sook called for stronger enforcement against hoarding and collusion to prevent market disruption.
- •She said the conflict in the Middle East is showing signs of spreading and becoming more complex.
- •The prime minister noted that South Korea’s economy grew 3.8 percent in the first half from a year earlier.
- •She also asked officials to reduce heat-wave damage and keep agricultural and fisheries supplies stable.
Prime Minister Han Seong-sook on Wednesday instructed officials to crack down on market-disturbing acts such as hoarding amid persistent concerns about supply strains linked to the on-again, off-again conflict in the Middle East.
Han made the remarks at the start of an emergency economic meeting with related ministers, saying the unrest in the Middle East was showing signs of spreading and becoming more complex. She also said South Korea had handled the crisis wisely, noting that the economy grew 3.8 percent in the first half from a year earlier.
"The government should constantly make sure that crisis response measures are consistently implemented," Han said. "First of all, we need to make sure that market-disturbing acts, such as hoarding and collusion, are properly cracked down on and punished."
Han also asked officials to take steps to minimize damage from heat waves and to ensure agricultural and fisheries products are properly supplied, underscoring the government’s focus on keeping domestic markets stable as external disruptions and seasonal pressures converge.
(Yonhap)