On the 8th, President Lee Jae-myung said, "If you try to make some money by hoarding and cornering, you will be utterly ruined," adding, "If you are caught, even if we want to be lenient, we cannot." It came two days after he ordered at a recent cabinet meeting to eradicate market-disrupting acts by raising the reward rate under the current Act on the Protection of Public Interest Whistleblowers from "up to 10% of the recovered amount" to around 30%.
That day on X (formerly Twitter), Lee wrote, "I am letting you know in advance because there are people who, still unaware that the world has changed, are heading down a path to ruin with outdated thinking." Lee also said, "By law, if you hoard and corner, all goods subject to hoarding and cornering are confiscated, and if confiscation is difficult, their value is collected," adding, "Because confiscation and collection are mandatory—i.e., compulsory confiscation—once you are caught, even if we want to be lenient, we cannot."
As supply concerns over medical products such as syringes grow following raw material supply issues stemming from the prolonged Middle East war, the government is raising the level of sanctions against hoarding and cornering in each sector. It plans to introduce a high-intensity penalty surcharge and ensure that "confiscation of goods" specified by law is carried out swiftly in practice. In particular, in line with Lee's instruction at the cabinet meeting on the 6th, the government is discussing a plan to...
Veteran Bollywood actor Shakti Kapoor has strongly rejected false reports circulating on social media claiming his death, calling the rumours “completely fake” and confirming that he is “healthy an...