"Stop Price Inflation" Jeonnam Province and City-County Countermeasure Inspection

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Jeonnam Province, facing a sustained inflation rate in the 4% range due to the prolonged economic downturn following COVID-19 and rising international oil prices, has joined forces with city and county governments to devise measures to curb price increases.

On the 21st, Jeonnam Province held a ‘Province-City/County Price Management Directors Meeting’ at the Seo Jae-pil Room in the provincial office to review the progress of local price stabilization measures for this year and discuss future plans.

So far, Jeonnam Province has implemented ▲ operation of a comprehensive price countermeasure situation room ▲ frequent monitoring of price trends for major daily necessities ▲ intensive crackdowns on unfair trade practices through joint inspection teams ▲ price stabilization campaigns involving consumer organizations (24 times).

In May, the province plans to conduct a thorough inspection of 323 Good Price Stores across the region and actively promote those stores operating on a low-margin, high-turnover basis to stabilize personal service fees.

Additionally, each city and county will hold consumer policy committee meetings to gather on-site opinions on prices, and maintain a freeze policy for the stable management of public utility fees under their jurisdiction. If an increase is unavoidable, the province and city/county governments will discuss postponing the timing of the increase until 2023.

A Jeonnam Province official stated, “The recent sharp rise in prices is a heavy burden on residents, so we will work hard with city and county governments and related organizations to manage price stabilization,” and added, “We ask residents to actively participate in local price stabilization efforts by using Good Price Stores.”

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