The Korean government is taking emergency measures to ban hoarding of syringes in response to supply instability. The action comes as concerns grow over potential disruptions to medical facilities following reports of stockpiling and delayed sales in some distribution channels.
The Ministry of Food and Drug Safety (MFDS) announced Monday that a notice prohibiting hoarding of syringes and needles will take effect from midnight on Tuesday. The measure will remain in force until June 30.
The action follows concerns over potential production disruptions after naphtha, a key raw material, became difficult to source due to geopolitical instability in the Middle East. The government has launched the crackdown to secure stable supply of essential medical devices.
The ban targets abnormal purchasing and storage of syringes and needles, as well as delayed sales. A typical violation would be a business acquiring quantities exceeding normal demand and withholding supply from the market in anticipation of price increases.
Specifically, existing businesses are prohibited from storing more than 150 percent of their recent average monthly sales volume for five days or longer, or from selling more than 110 percent of their average monthly sales volume. New market entrants are also subject to enforcement for failing to sell within 10 days of purchase or supplying excessive quantities to the market.
The government will operate a reporting center to ensure effective enforcement. The MFDS will receive reports of suspected hoarding, conduct inspections and investigations simultaneously, and take strong action including filing criminal complaints against violators. Related businesses will be required to report production volumes, shipments, and inventory on a daily basis.
The ministry will also monitor supply conditions continuously in cooperation with related government agencies and take additional measures if necessary. Violations of hoarding regulations are punishable by up to three years in prison or fines of up to 100 million won ($70,000).
"Syringes and needles are essential medical devices for patient treatment," the MFDS said. "We will respond firmly to any market disruption that exploits supply instability."
