Vice Minister of Economy and Finance: "55 Million Egg Processed Products to be Imported by June... Egg Prices Will Improve"

6th Innovation Growth Strategy Review Meeting Held on the 19th

Kim Yong-beom, First Vice Minister of the Ministry of Economy and Finance, attends the "6th Innovation Growth Strategy Review Meeting, Policy Review Meeting, Korean New Deal Review Meeting, and 3rd Vice Ministers' Meeting on Price Relations" held at the Government Seoul Office in Jongno-gu, Seoul on the 19th, delivering opening remarks. Photo by Kang Jin-hyung aymsdream@

[Sejong=Asia Economy Reporter Moon Chaeseok] Kim Yong-beom, First Vice Minister of the Ministry of Economy and Finance, stated on the 19th, "By the end of June, 55 million egg processed products are expected to be imported, and (prices) will gradually improve in terms of egg supply and price conditions."

At the '6th Innovation Growth Strategy Review Meeting, Policy Review Meeting, Korean New Deal Review Meeting, and 3rd Price-related Vice Ministers' Meeting' held at the Government Complex Seoul on the same day, Vice Minister Kim diagnosed, "Since Lunar New Year, prices of agricultural and livestock products have shown a downward stabilization trend in apples, pears, etc., but the strength of some items such as eggs still continues, keeping the overall level high."

He added, "Since the beginning of this month, the frequency of AI outbreaks has decreased and imports of egg processed products by private companies have expanded, so egg supply and price conditions are expected to gradually improve. As risk factors still exist, we will proceed without fail with the additional import of 24 million fresh eggs and spare no support for prompt customs clearance and distribution."

He continued, "The government will release rice from stockpiles and encourage private imports and increased shipments of onions, fruits, etc. to stabilize agricultural product prices. Recently, not only agricultural and livestock products but also major raw materials such as crude oil and non-ferrous metals have continued to show strong prices, so the government will strengthen inspections by sector such as grains and crude oil and prepare countermeasures through meetings like the Price-related Vice Ministers' Meeting."

During the meeting, measures to integrate digitalization into SOC related to public safety were also discussed.

Vice Minister Kim said, "By 2025, we will invest 14.8 trillion won to establish Intelligent Transportation Systems (ITS) and Cooperative Autonomous Driving Systems (C-ITS) on major arterial roads."

He added, "This year, we will establish a smart management system capable of continuous inspection on metropolitan area railways and the Gyeongbu High-Speed Railway, and next year, we will prepare a non-face-to-face boarding system using biometric information at 15 airports nationwide."

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