Seoul: President Lee Jae Myung warned Friday that hoarding supplies amid shortages caused by the Middle East war will lead people to "ruin." Lee posted the message on social platform X in apparent reference to businesses caught in violation of a temporary government ban on hoarding petrochemical products, which was introduced to address shortage concerns prompted by the prolonged war.

According to Yonhap News Agency, Lee emphasized that "hoarding in order to make some money will lead to complete ruin," highlighting the legal consequences of such actions, which include confiscation of the goods or forfeiture of the equivalent value. He further warned, "I am letting you know in advance because there are still people oblivious to the fact that the world has changed, who are walking the path to ruin with an outdated mindset."

The ongoing war has significantly disrupted naphtha supplies, impacting the production of essential medical items, such as syringes and intravenous bags. A special crackdown by the Ministry of Food and Drug Safety recently uncovered dozens of companies suspected of hoarding syringes, including at least 14 that have been referred to the police for investigation.