The government will implement temporary discount support for all domestic agricultural products to reduce the burden of agricultural product prices. The duration is two weeks, and the discount limit will be doubled compared to before.
The Ministry of Economy and Finance noted on the 16th during a price-related vice minister meeting hosted by acting Minister Kim Beom-suk that starting from the 22nd for a two-week period, the discount applicable products will be expanded to all domestic agricultural products, and the amount of support per person will be increased from 10,000 won to 20,000 won. This measure will be carried out through a supplementary budget.
To address the rise in prices of garlic due to decreased supply, the government will additionally supply 450 tons from its stockpile, and there are also plans to run discount events on livestock products such as pork until the 31st of this month. In response to the decreased catch during the fishing gap (May to June), the stockpile of hairtail and squid will also be expanded.
Acting Minister Kim Beom-suk said, "The prices of some items such as radishes, onions, garlic, pork, and eggs are still high," and urged relevant departments to manage prices and supply meticulously.
He further emphasized, "Although the prices of gasoline and diesel have shown stability since the restoration of fuel taxes, please continue to monitor the field to prevent excessive increases beyond the restoration range."
Meanwhile, the government evaluated that the unit price in March had risen excessively beyond the level of changes in supply and demand conditions, following a recent field investigation by the Livestock Products Quality Evaluation Institute on egg-producing farms. The government plans to conduct further investigations into the factors behind price increases and will take action in accordance with relevant laws if unfair transactions such as collusion are confirmed.