Impose fines exceeding illicit gains for hoarding and profiteering; accelerate sales of goods
The government, in 2026 year 5 month 21 day, announced the “Measures to Enhance the Effectiveness of Price Stabilization Measures.” It decided to impose fines exceeding illicit gains for violations involving hoarding and profiteering or emergency supply-and-demand adjustment measures, and to introduce orders to dispose of goods, coercive fines for noncompliance, special provisions for selling confiscated goods, and a whistleblower reward system.
The government, in 2026 year 5 month 21 day, announced the “Measures to Enhance the Effectiveness of Price Stabilization Measures” jointly with relevant ministries. The measures include stronger penalties and enforcement tools for violations involving hoarding and profiteering and emergency supply-and-demand adjustment measures. The announcement presented both revisions to enforcement decrees and legislative amendments.
The government decided to impose fines at levels exceeding illicit gains for violations. It also decided to establish a new whistleblower reward system. The government said it would strengthen the recovery of illicit profits.
Orders to dispose of goods and coercive fines for noncompliance will be introduced. The government decided to establish a special provision allowing confiscated goods to be sold even before a final court ruling. It explained that the provision is intended to accelerate the distribution of goods in short supply to the market.
Authority to crack down on hoarding and profiteering at the import and customs-clearance stages will be delegated to the Commissioner of the Korea Customs Service. Previously, the minister of the relevant ministry was responsible for enforcement in bonded areas, but the authority will be transferred to the Korea Customs Service. The government said it would respond swiftly at an early stage.
At the police investigation stage, the government plans to make active use of pre-indictment asset preservation to recover the value of goods that have been disposed of. It said that under the current system, authorities can only issue corrective orders after detecting hoarding and profiteering, leaving them with insufficient means to compel sales. It also said that seized goods can be sold by public auction only after going through complaint, investigation, and trial procedures, delaying their supply to the market.
The government explained that it prepared these measures in response to recent supply uncertainty stemming from the Middle East and rising international raw-material prices. It said it had successively invoked price-stabilization measures for key items including urea, naphtha, petroleum products, and syringes. It said implementation would proceed through revisions to enforcement decrees and the Price Stabilization Act.