Vice Minister Ki Jae: "Apples and Pears, 44,000 Tons to Be Supplied Intensively Over the Next Week"

Nonghyup Fruit Gift Sets 100,000 Units Discount Sale
Major Imported Fruit Discount Event Held

Despite the overall stabilization of prices for essential seasonal products, the soaring prices of apples and pears have continued, prompting the government to focus on supplying 44,000 tons, which accounts for more than 60% of the total government supply volume, over the next week to stabilize apple and pear prices.

On the 26th, Kim Byung-hwan, the 1st Vice Minister of the Ministry of Economy and Finance, chaired the 9th Vice Ministerial Price Meeting at the Nonghyup Hanaro Mart in Yangjae-dong, Seocho-gu, Seoul, and announced this plan.

First, the government decided to stabilize the prices of essential seasonal products, focusing on apples and pears. The average price of 16 essential seasonal products is 3.2% lower compared to the average price during the three weeks before last year's Lunar New Year peak season. Prices of napa cabbage (-1.6%), radish (-21.0%), beef (-3.5%), eggs (-11.4%), and hairtail fish (-5.3%) have significantly stabilized. However, apples (16.2%) and pears (16.8%) still maintain high prices due to the lingering effects of last year's poor harvest.

Since the second week of the peak season coincides with concentrated holiday demand from today until the 1st of next month, apples and pears will be supplied intensively at 44,000 tons (7,400 tons per day), which is more than 60% of the total government supply volume, over the next week. Additionally, starting today, Nonghyup will sell 100,000 fruit gift sets at a 15-20% discount compared to market prices to alleviate the price burden of fruits.

Import tariffs on fruits will be reduced, and additional low-tariff quota (TRQ) volumes will be swiftly introduced. From the end of this month, reflecting the decline in import prices, the distribution industry will hold large-scale discount events for imported fruits. Homeplus and E-Mart have already started sales, and Lotte Mart will begin sales from the 1st of next month. TRQ volumes began customs clearance earlier than scheduled by 2-3 weeks on the 19th and about 6,200 tons have been introduced so far.

The meeting also reviewed the progress of the Lunar New Year livelihood stabilization measures. Accommodation coupons offering a 30,000 won discount for reservations over 50,000 won at non-metropolitan accommodations are currently in the process of selecting participating companies and other procedures. Starting from the 7th of next month, 90,000 coupons will be issued, with an additional 110,000 coupons issued from the 27th, totaling 200,000 coupons to be distributed sequentially. Special transportation measures for Lunar New Year, including expanding transportation capacity in road, rail, air, and maritime sectors and improving convenience for holiday travelers, will be thoroughly prepared and announced on the 6th of next month.

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