Hoarding of Syringes, Needles Banned from Today; Emergency On-Site Inspections Underway

In response to potential supply chain instability caused by the ongoing Middle East conflict, South Korea has implemented a ban on the hoarding and resale of syringes and needles, effective immediately. This decisive measure aims to prevent price gouging and ensure the stable availability of these critical medical supplies for healthcare providers across the nation.

The Ministry of Health and Welfare convened a third meeting with medical organizations and relevant government bodies to address the situation. Key discussions focused on alleviating cost burdens for manufacturers and ensuring the smooth distribution of medical products. The government has also established a hotline and a reporting center to address any hoarding activities and to swiftly investigate reported violations.

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The government will ensure sufficient supply of petrochemical raw materials to the health and medical sector to prevent problems with the supply of medical products, and prohibit hoarding due to anxiety to stabilize the distribution order.

To further guarantee the stability of medical supplies, emergency on-site inspections will be conducted starting this week at general hospitals and other healthcare facilities nationwide. These inspections will assess inventory levels and recent purchasing patterns to identify and rectify any practices that could lead to supply shortages. The government is committed to taking strict administrative guidance and, if necessary, firm action against any disruptions to the distribution order.

In addition to supply-side measures, the government is exploring ways to ease the financial burden on small and medium-sized manufacturers. This includes considering emergency management stabilization funds and reviewing pricing structures to reflect current market conditions, such as rising raw material costs and currency fluctuations. The aim is to support domestic production and ensure a resilient healthcare supply chain.

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We ask companies in manufacturing and distribution, as well as medical institutions and pharmacies, to actively cooperate with the government's policies.