Gov't prioritizes supply of health care products, raw materials amid shortage concerns

SEOUL, April 10 (Yonhap) -- The government is prioritizing the stable supply of health care products, daily necessities and key raw materials, such as naphtha, amid shortage concerns stemming from the Middle East crisis, Finance Minister Koo Yun-cheol said Friday.

The supply of major raw materials related directly to everyday life has been facing disruptions since U.S. and Israeli strikes on Iran in late February as the Strait of Hormuz, a major Middle Eastern shipping route, has been effectively shut down.

"While closely monitoring supply and demand of key items, price trends and industry impacts, the government will swiftly address corporate difficulties arising from supply chain instability," Koo said in an economy ministers' meeting on supply chain disruptions.

He stressed the government will prioritize supplying raw materials, such as naphtha, a key feedstock widely used in petrochemical and other industries, as well as health care products and daily necessities.

To prevent supply instability and hoarding of essential goods, the government on Wednesday designated seven basic petrochemical products as crisis items, Koo said.

khj@yna.co.kr(END)