Deputy Minister Gi Jae to Announce Chuseok Livelihood Stabilization Measures at the End of This Month

Policy Review Meeting and Vice Ministers' Meeting on Prices Held on the 20th
Securing Chuseok Seasonal Goods like Apples and Pears... Egg Prices Remain in the 6000 Won Range

Lee Ok-won, First Vice Minister of Strategy and Finance, speaks at the "28th Policy Review Meeting and 23rd Vice Ministers' Meeting on Prices" held at the Government Seoul Office on the morning of the 20th. (Photo by Ministry of Strategy and Finance)

[Sejong=Asia Economy Reporter Moon Chaeseok] Lee Eokwon, the 1st Vice Minister of the Ministry of Economy and Finance, announced on the 20th, "We will announce the '2021 Chuseok Livelihood Stabilization Measures' as early as the end of this month."

On the morning of the same day, Lee held the '28th Policy Review Meeting and 23rd Vice Ministers' Meeting on Prices' at the Government Seoul Office and said, "Prices of Chuseok seasonal products such as agricultural, livestock, and fishery products, which are directly linked to the livelihood prices, are higher than in previous years, making efforts to stabilize prices urgent."

He stated, "The government has already secured stockpiles and contract quantities of apples, pears, radishes, etc., to expand supply during the Chuseok peak season, and plans to complete securing stockpiles of napa cabbage within this week," adding, "Management of supply and demand, including imports, is also being carried out without any setbacks."

He continued, "We will conduct weekly inspections to ensure the price stability of agricultural, livestock, and fishery products continues until the Chuseok peak season and will immediately prepare supplementary measures if necessary."

He also revealed plans to release the '2021 Chuseok Livelihood Stabilization Measures' by the end of this month, which will include support for vulnerable groups and alleviation of living price burdens.

Lee said, "While maintaining a thorough quarantine stance, the government is working closely with related ministries and agencies to prepare the 'Chuseok Livelihood Stabilization Measures' to support vulnerable groups and ease the burden of living prices," adding, "After additional discussions among related agencies today, we plan to announce the livelihood stabilization measures as early as the end of this month."

He added, "First, we will seek to stabilize living prices through various measures such as expanding the supply of major seasonal products," and said, "Under strong quarantine responses, we will strengthen safety management in areas closely related to citizens' lives and actively seek ways to maintain regional economic vitality in harmony with quarantine."

According to the Ministry of Economy and Finance, prices of major agricultural, livestock, and fishery products have shown stability this week. Comparing prices on the 12th and 19th, napa cabbage dropped from 4,536 won to 4,478 won per head, radish from 2,306 won to 2,257 won, and apples from 31,580 won to 30,667 won. In particular, egg prices fell to the 6,000 won range, with a carton (30 eggs) priced at 6,946 won on the 12th and 6,826 won on the 19th.

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