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Subject PPS Winning an Extra Budget Worth 84.8 Billion Won for Stabilized Mask Supply
Writer 박혜진 Date 2020-03-24 Read 19
Division International Cooperation Division
Contents

PPS, stockpiling 100 million masks in preparation for an emergency like the outbreak of COVID-19.

Giving manufacturers incentives for working at night or on weekends and holidays.

Securing additional private warehouses along with PPS-owned ones.


□ Of the total supplementary budget of 11.7 trillion won approved by the National Assembly on March 17 to combat the economic fallout from the coronavirus outbreak and help shore up vulnerable businesses and domestic consumption, PPS got allocated 84.8 billion won for “face mask stockpiling and management” in preparation for an emergency like the coronavirus epidemic.

ㅇ The preferential use of the extra budget for PPS will be to remove difficulties facing the people who try to purchase masks to protect themselves from being infected.

ㅇ The next use will be to manage the supply and demand of masks. Even if the demand for masks decreased following the end of COVID-19, manufacturers would not get in trouble selling their masks.

 

The extra budget would be used for the following purposes:


To purchase masks (including MB filter in preparation for emergency: 75.8 billion won

- Stockpiling 100 million masks and purchasing melt brown (MB) filters, key raw materials required to produce masks.


To offer incentives for manufacturers: 8.58 billion won

- Providing fiscal incentives for manufacturers working around the clock to help stabilize the supply of masks amid challenging circumstances of increasing costs of raw materials and labor.


③  To secure additional warehouses: 420 million won
- Using private warehouses for rent along with PPS-owned ones to expedite the supply of masks on the basis of the distribution of mask demand at a regional level and the proximity and logistic system of the manufacturers.


□ PPS Administrator Jung Moo-kyung said that “the extra budget allocated to PPS this time will be used to stabilize the mask supply for the people who are having a hard time buying masks in the aftermath of the spread of the coronavirus”, adding that “PPS will make an all-out effort to ensure balanced long- and short-term supply and demand of masks for emergency.”


* Inquiry: Deputy Director Kim Sookyung of Planning and Finance Division 

 

 

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