International oil prices have surged past $100 per barrel amid escalating Middle East tensions, prompting Korean police to intensify crackdowns on price manipulation violations.
Seoul Metropolitan Police Agency Chief Park Jung-ho announced during a March 9 policy briefing that authorities are ramping up enforcement against illegal activities in critical social businesses tied to national interests. “We aim to strengthen crackdowns on sectors vulnerable to disruptions that could harm the public,” Park stated.
New Task Force Targets Price Gouging
The agency is spearheading a dedicated “Price Disruption Crime Eradication Task Force (TF)” under Park’s direct leadership. This initiative focuses on fuel-related offenses, with operations centered at the Seoul headquarters and extending nationwide.
Gasoline Prices Break 1,900 Won Barrier
Domestic gasoline averages climbed to 1,900.65 won per liter by noon, marking the first breach of the 1,900-won threshold in roughly three years and eight months since July 2022. Recent data from the Korea Social News Network highlights the sharp rise driven by global supply concerns.
Heightened Oversight on Major Oil Firms
Police are expanding monitoring of large conglomerates linked to state-run enterprises, including those with ties to the U.S., Israel, and Iran. Park noted that while most major players maintain compliance, high-risk operations face targeted audits. “We select priority cases for immediate correction and roll out sequential nationwide inspections,” he explained.
Combating Fake News with Cyber Teams
Additionally, two cyber monitoring teams operate around the clock to address state-related misinformation. “Any content potentially linking to criminal acts will prompt rapid resource deployment,” Park affirmed.
