Menu Content
Go Top

Domestic

Gov't Cracks Down on Cornering, Hoarding Urea Water Solution

Written: 2021-11-08 11:23:25Updated: 2021-11-08 13:58:58

Gov't Cracks Down on Cornering, Hoarding Urea Water Solution

Photo : YONHAP News

The government has begun cracking down on the practice of cornering and hoarding urea water solution products amid a severe shortage. 

The Ministry of Environment announced on Monday that it launched an inter-agency team to block any market disruption activities and the illegal sale of urea water solution and urea. 

The Ministry of Trade, Industry and Energy, the Fair Trade Commission, the National Tax Service and the Korea National Police Agency will take part in the joint crackdown, which will continue until the end of the year. 

Roughly ten-thousand businesses are expected to be subject, including importers and producers of urea, importers of urea water solution and gas stations. 

Under the ban, producers, importers and sellers will face a maximum prison sentence of three years or a fine of up to 100 million won if the amount of their stored products exceeds ten percent of their previous average monthly sales volume.

Related News

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >