Tackling Panic Buying During COVID-19: A Case Study of the Public Procurement Measures on Face Masks from South Korea

During the COVID-19 pandemic, the phenomenon of panic buying emerged as oneof its defining characteristics. Therefore, it is urgent to examine consumers’ panic buying behaviorand governmental responses to provide valuable insights for scholars and policymakers. This studyinvestigates the countermeasures implemented by the South Korean government to address panicbuying of face masks. Methods: We assessed public procurement schemes by analyzing data from theInter-governmental Face Mask Task Force of South Korea. Results: Strong state intervention measureseffectively addressed panic buying and disruptions in the supply chain of face masks and essentialhygiene products during the pandemic. The study also emphasizes the need for active governmentintervention, including production expansion, public procurement, purchasing arrangements, and strictenforcement measures. Conclusions: This research provides important insights for both research