President Lee Jae-myung warned on May 8 that hoarding goods could lead to disaster, stating, "Hoarding is a path to ruin; those who think they can make a quick profit through hoarding will end up completely failing."
In a post on X (formerly Twitter), President Lee noted, "There are still those who do not realize the world has changed and are heading down a path of ruin with outdated thinking. I want to inform them in advance."
As concerns about rising prices due to the prolonged conflict in the Middle East continue, he reiterated his commitment to a strong response against market disruption.
He emphasized, "Under the law, if hoarding occurs, all items subject to hoarding will be confiscated, and if confiscation is not possible, their value will be seized. Mandatory confiscation means that once detected, leniency is not an option."
President Lee also questioned, "Do you think you can avoid detection? We offer rewards of 20-30% of the value of hoarded goods for reports, so is it really possible to go unnoticed?"
He concluded by stating, "The era of abnormality is coming to an end, and a normal era is beginning. Those who seek unjust profits by relying on abnormality will face severe consequences."
* This article has been translated by AI.
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