Control Prices for Lunar New Year! ... Busan City Strives to Stabilize Prices for the Welfare of Ordinary Citizens

Economic Vice Mayor to Chair 'Lunar New Year Price Stabilization Measures Meeting' at City Hall on 5th at 3 PM

Expansion of Seasonal Goods Supply, Direct Market Events with Discounts, On-site Guidance and Inspection of Origin Labeling

Busan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] On the 5th at 3 PM, Busan City will hold a "Lunar New Year Price Stabilization Measures Meeting" in the small conference room on the 12th floor of City Hall to review the city's progress and discuss measures by various agencies.

Recently, consumer prices have slowed in their rate of increase due to declines in international oil prices and agricultural product prices, but prices still remain at a high level, and national institutions such as the Bank of Korea expect high inflation to persist for a considerable period.

Additionally, due to recent severe cold and heavy snowfall, there is a possibility of a sharp rise in prices of agricultural products (such as vegetables), and combined with Lunar New Year demand, there is concern that price increases may intensify further.

Amid these concerns, the city has established price stabilization measures to stabilize people's livelihoods ahead of the Lunar New Year, and today, under the chairmanship of the Deputy Mayor for Economic Affairs, a meeting was arranged to discuss effective measures with related agencies such as the National Tax Service, the Fair Trade Commission, the Korea Agro-Fisheries & Food Trade Corporation, as well as distribution-related organizations including Hangdo Office.

At today's meeting, recent price trends and agency-specific measures will be discussed, and the voices from the field of attending agencies and organizations will be heard to seek cooperation for city policies.

The city plans to significantly increase the supply of popular items such as apples, pears, and beef compared to normal times, focusing on concentrated supply before the holiday, and will encourage related institutions such as wholesale markets to ship quantities accordingly. In addition, the city intends to strengthen collection activities at production sites to do its best to increase supply volume.

For major items such as agricultural and livestock products, the city plans to operate a supply and price stabilization task force until price stabilization is achieved, continuously making efforts to stabilize prices.

To reduce citizens' price burdens, various policies will also be promoted, including holding Dongbaekjeon and Dongbaektong Lunar New Year events, opening direct transaction markets, and discounts on ceremonial items and gift sets by distribution companies such as NongHyup.

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

Lee Seong-gwon, Deputy Mayor for Economic Affairs of Busan City, said, "We will strengthen the emergency response system to stabilize prices and do our utmost to stabilize prices for the stabilization of the low-income economy suffering from high inflation," adding, "Especially this Lunar New Year, we will actively promote policies such as expanding the supply of popular items, opening direct transaction markets, and Dongbaekjeon events."

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