Kang Hoon-sik Says Authorities Will Crack Down on Crisis-Exploiting Hoarding and Release High-Price Fuel Subsidies Without Delay

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[The Financial News] On the 27th, Chief of Staff to the President of the Republic of Korea Kang Hoon-sik held a meeting with senior presidential aides to review measures to stabilize livelihoods and the market amid the prolonged Middle East war.
According to a written briefing by Deputy Spokesperson Ahn Gwi-ryeong, Kang said at the meeting, "We will respond strongly to market-disturbing acts such as hoarding and profiteering that exploit the crisis."
He explained that the government is seeking alternative supply routes for crude oil and naphtha, while also enforcing anti-hoarding measures on everyday items such as petroleum products, urea water, and syringes.
Kang said that, overall, market order has been maintained, but that some anti-social behavior driven by profit-seeking has emerged. In a recent inspection by the Ministry of Food and Drug Safety, 32 distributors of syringes and needles were caught on suspicion of hoarding. Separate nationwide inspections of gas stations also uncovered 99 violations, including stockpiling and sales of fake fuel.
Kang emphasized, "We will continue to strengthen inspections of unfair acts that exploit the crisis," adding, "For violations, we will respond firmly with swift investigations, strict punishment, and the maximum level of administrative sanctions."
The meeting also discussed the implementation of high-price fuel relief payments. Kang said applications for the subsidies will begin today for welfare recipients, the near-poverty class, and single-parent families, and called for close cooperation between relevant ministries and local governments.
He especially urged thorough advance preparation and swift execution so that confusion seen in past subsidy payments, such as shortages of prepaid cards, does not happen again.
Kang also stressed that all public officials, including those at Cheong Wa Dae and Members of the State Council, must uphold political neutrality ahead of the 9th nationwide local elections.
He said, "Any involvement by public officials in elections can undermine fairness and public trust," and added that all actions that could affect the election must be strictly prohibited.
He also asked the Senior Secretary for Civil Affairs Office, the National Police Agency, and other relevant institutions to thoroughly manage and inspect to prevent any violations of election law by public officials.
west@fnnews.com Seong Seok-woo Reporter