By Lee Jihae

As the reality of the novel coronavirus disease (COVID-19) has taken hold worldwide, foreign media are frequently reporting on the panic buying occurring in global regions such as the U.S. and Europe.

In Korea, however, customers hardly see empty aisles at supermarkets. Many experts say the main reason panic buying is practically nonexistent in Korea is the country's highly developed delivery system. Nationwide online shopping transactions have shown steady growth, with the figure in February this year reaching KRW 11.96 trillion, up 24.5% from the same month last year.

The rise of delivery volume has also affected brick-and-mortar stores. The main discount chains in Korea all offer nationwide delivery service, and food can be delivered as fast as half a day.

This is why buying something is as easy as making a single phone call or inputting a thing or two on a smartphone or a computer, putting far less pressure on people to buy in bulk in advance.

The accessibility and diversity of distribution companies also make consumers feel secure about the supply of goods. Lee Eun-hee, a professor of consumer studies at Inha University, said, "There are neighborhood groceries, large discount chains, convenience stores and so many other distribution channels within the vicinity of consumers' homes. Also, many of the stores are available around the clock, and thus consumers have strong faith in the supply system."

"This faith is the reason panic buying hasn't taken hold in Korea."

In addition to Korea's measures to stem the spread of COVID-19, other countries are also lauding the Korean distribution system and civic consciousness that have prevented panic buying in bulk.

jihlee08@korea.kr