Control Chuseok Prices! ... Busan City Holds 'Price Stabilization Measures Meeting'

Busan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] Busan City will hold a "Chuseok Holiday Price Stabilization Measures Meeting" at 2 p.m. on the 24th in the conference room on the 2nd floor of the Busan Credit Guarantee Foundation to review price trends and discuss measures by related organizations.

Recently, consumer prices have recorded a rise of over 6% for two consecutive months due to factors such as international oil prices. National institutions including the Bank of Korea also expect high inflation to continue for the time being.

In addition, due to the recent ongoing heatwave, agricultural product prices have surged sharply, raising concerns that price increases may be further exacerbated by Chuseok demand. Amid these concerns, Busan City has prepared price stabilization measures to ensure public livelihood stability ahead of the Chuseok holiday.

At the meeting on the 24th, related organizations such as the Fair Trade Commission, Korea Agro-Fisheries & Food Trade Corporation, distribution-related groups including Hangdo Office will discuss recent price trends and measures by each institution, and listen to on-site voices from participating organizations to seek cooperation for city policies.

Busan City plans to significantly increase the supply of major seasonal products such as apples, pears, and beef compared to normal times and encourage related institutions such as wholesale markets to ship more quantities.

They will also strengthen collection activities at production sites to do their best to increase supply volume.

Furthermore, for major items such as agricultural and livestock products, continuous efforts will be made to stabilize prices by monitoring prices and preparing supply and demand measures until price stabilization is achieved.

The city will also promote various policies to reduce citizens' price burdens, such as discounts on ceremonial items by distribution companies like Nonghyup, special sales events, opening direct transaction markets, and hosting Dongbaekjeon Chuseok events.

Guidance and inspections to establish distribution order, such as price and origin labeling and price collusion checks, will be conducted in parallel to create an atmosphere of price stabilization.

Lee Seong-gwon, Deputy Mayor for Economy of Busan City, said, "We will respond with full efforts to stabilize prices to ensure livelihood stability amid difficulties caused by high inflation."

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