The South Korean government has announced that traders who speculate on masks and anti-corona products will face up to two years in prison.

South Korea's Ministry of Economy and Finance today said rising demand has led to speculation that has driven up the price of masks and antibacterial hand sanitizers in the country. These two items have been added to the list of special products.

From February 5, vendors stocking these products 1.5 times more than their average monthly sales will face up to a maximum sentence of two years in prison or a fine of up to 50 million won (US $ 42,000).

This decision comes against the backdrop of an acute pandemic of pneumonia caused by a new strain of corona virus (nCoV) from Wuhan, China, which is spreading rapidly in 25 countries and territories around the world, making 427 deaths and more than 20,000 infections.

Korean people expressed concern after the country recorded 16 cases of the disease. More than half a million people have signed online petitions submitted to the Blue House, demanding that the government ban temporary entry with Chinese visitors. South Korea evacuated hundreds of citizens from Wuhan and quarantined them.

The Chinese government says it is urgently in need of medical masks, clothing and goggles to cope with the nCoV, and has been provided with medical supplies by countries such as South Korea, Japan, and Kazakhstan.

Countries with nCoV patients. Click on image to see details.