[News Today] Firms caught for stockpiling syringes

[LEAD]

Following the Middle East crisis, syringe shortages at local clinics have raised concerns. What was initially suspected to be panic buying has now been confirmed. Government inspections have found more than 30 companies engaged in hoarding.

[REPORT]

The warehouse of this syringe distributor is packed with boxes of medical syringes.

After the Middle East conflict, the company did not release syringes it received from manufacturers into the market, raising suspicions of hoarding aimed at driving up prices.

Some 130,000 syringes were found in the warehouse.

That's about two weeks' worth of sales.

Another distributor was caught providing syringes only to specific clients.

Its 33 clients, including medical institutions, received an exclusive supply of some 620,000 syringes, nearly 60 times the average monthly sales volume.

As a result, local clinics that buy syringes in small volumes had a hard time securing them.

Kang Kyung-min / Nurse

It’s sold out. We can’t order them. Sometimes there are only two available.

In a crackdown, the Ministry of Food and Drug Safety has caught 32 firms for stockpiling syringes.

Kim Myung-ho / Ministry of Food and Drug Safety

We will file complaints and issue corrective orders in line with price stabilization laws.

Even after the Middle East crisis began, domestic syringe production has remained at its usual level of about 4.5 million units per day.

It has even surged by about 25% from last year.