Control Soaring Prices... Gyeongnam Province's Full-Scale Effort to Stabilize Prices for Seol Holiday

Operation of Priority Management and Price Stabilization Task Force for 16 Essential Goods

Gyeongsangnam-do has launched measures to stabilize prices and the local economy ahead of the upcoming Lunar New Year holiday next month.

On the afternoon of the 19th, Gyeongnam Province held a meeting between the provincial and city/county economic department heads, chaired by the Director of the Economic and Trade Bureau, at the provincial government conference room.

At the meeting, Gyeongnam Province decided to designate the period from the 19th of this month to February 12 as a special price stabilization period.

They also discussed measures to manage prices of key seasonal products and promote consumption to revitalize the regional economy.

A meeting between the provincial and city/county economic department heads is being held in the Gyeongnam Provincial Government Office conference room to prepare measures for stabilizing prices during the Lunar New Year holiday.
[Photo by Gyeongnam Provincial Government]

The province plans to focus on managing prices of 16 key seasonal products including cabbage, radish, apple, pear, beef, pork, chicken, eggs, chestnuts, jujubes, pollock, squid, hairtail, yellow croaker, mackerel, and dried anchovies during the Lunar New Year holiday.

Each city and county will operate local price stabilization task forces to conduct joint inspections with price monitoring personnel and consumer groups on price trends and compliance with origin labeling, strengthening on-site price management.

Price information for the Gyeongnam region will be posted at least twice a week on the ‘Price Trends’ section under ‘Economy & Startups’ on the province’s website to disclose price trends of key seasonal products and encourage price restraint.

The number of “Good Price Stores,” designated and operated to stabilize local prices, will be expanded from 418 locations last year to around 600 this year.

The province requested cooperation from cities and counties to freeze water and sewage fees and garbage bag prices managed locally during the first half of the year to help stabilize regional prices.

Additionally, until February 12, the province will designate parking zones near traditional markets allowing parking for up to two hours to improve convenience for visitors.

On eGyeongnam Mall, local agricultural, livestock, and marine products will be sold at a 20% discount.

To ensure smooth supply of livestock products, the number of slaughtered animals during the peak season will be increased compared to normal times, and slaughter inspections will be extended to encourage stable shipments.

Price stabilization will be promoted through special supply of seasonal products and operation of special sales venues, while supply situations of key managed items will be regularly checked through special guidance and crackdowns on origin labeling, focusing on monitoring price trends.

Lee Mi-hwa, Director of the Economic and Trade Bureau, said, “The accumulated high interest rates and high prices have placed a heavy burden on residents’ households. We will do our best to ensure stable supply and prices of seasonal products for the Lunar New Year so that residents can have a comfortable and joyful holiday.”

She added, “While expanding Good Price Stores, we will also seek support measures to continue projects that reduce residents’ burdens even after the holiday.”

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