Ulsan City Takes Action to Stabilize Prices of Lunar New Year Seasonal Goods

Operation of Comprehensive Price Countermeasure Situation Room, Focused Management on 16 Items

Ulsan City Hall exterior view. (Photo by Ulsan City)

[Asia Economy Yeongnam Reporting Headquarters reporters Yoon Yoseop and Yang Heejeong] Ulsan City announced on the 3rd that it will designate the period from the 6th to the 27th as the 'Special Price Stabilization Measures Period' ahead of the Seollal holiday and actively implement price stabilization measures and regional economic revitalization.

During this period, Ulsan City will operate a 'Comprehensive Price Measures Situation Room' and focus on managing 16 key Chuseok seasonal items including agricultural, livestock, and seafood products.

The 16 key items under focused management include agricultural products such as cabbage, radish, apple, and pear; livestock products such as beef, pork, chicken, and eggs; forest products such as chestnuts and jujubes; and seafood such as pollock, squid, hairtail, mackerel, yellow croaker, and dried anchovies.

Ulsan City will first organize a 'Local Price Stabilization Task Force' in each district and county, composed of public officials, price survey monitors, consumer groups, and related organizations. The task force will guide and inspect on-site for unfair trade practices such as compliance with price labeling, origin labeling, and price increases due to collusion.

Senior public officials will be designated as price managers to visit traditional markets and other livelihood economy sites to directly hear voices from the field and collect suggestions.

Additionally, Ulsan City will expand the issuance of Ulsan Pay to 100 billion KRW this year to prevent the outflow of local funds and revitalize local neighborhood markets. Ulsan Pay offers consumers a permanent 5% purchase discount and 30% income deduction support, while affiliated stores benefit from no payment fees.

To promote consumption, the monthly individual discount purchase limit for Onnuri gift certificates will be raised from 300,000 KRW to 700,000 KRW from the 2nd until the end of next month, and parking on roads around eight traditional markets will be allowed.

Lee Chaekwon, head of the Small and Medium Venture Business Division of Ulsan City, said, “We will actively promote the operation of the price stabilization task force, the expansion of Ulsan Pay issuance, and campaigns to use traditional markets to contribute to price stabilization during the Seollal holiday and do our best to revitalize the local economy.”

This content was produced with the assistance of AI translation services.