President Lee Jae Myung on Wednesday called on the government to transparently disclose supply and demand conditions for major items amid concerns over fuel and key materials due to the conflict involving Iran. The move aims to prevent market confusion from fake news and rumors. He also directed overseas missions to explore alternative supply channels.
SEOUL, April 1 (Yonhap) -- President Lee Jae Myung said during Wednesday's emergency economic response meeting, "We should transparently inform the public about supply and demand conditions, and response measures for key items to prevent unnecessary confusion and anxiety from spreading in the market."
He raised concerns that unclear information could lead to suspicion and doubt, fueling confusion through fake news and rumors. This comes amid reports of hoarding standard plastic garbage bags due to a sharp rise in polyethylene prices, a key material for plastic bags.
Lee instructed relevant ministries to identify items potentially affected by the U.S.-Iran conflict, compile a list, and monitor supply and demand, prices, and abnormal market activity daily. He directed them to maintain close communication with industries and review distribution channels.
To address global supply chain uncertainties, he urged overseas missions to "take the lead in actively identifying alternative supply sources abroad," linking efforts with private-sector diversification. Climate Minister Kim Sung-hwan was told not to limit garbage bag purchases per person but to adjust supplies by region, presidential spokesperson Kang Yu-jung said. The ministries of oceans and foreign affairs were tasked with ensuring safe passage for 26 South Korean vessels stranded in the Strait of Hormuz and exploring alternatives like the Red Sea.
