Yoon: "We will provide more radical support for apples and pears... Special measures for grocery basket prices" (Comprehensive)

President Yoon Chairs Livelihood Economy Review Meeting
Immediate Injection of 150 Billion Won for Emergency Agricultural and Livestock Price Stabilization
Five Fruit Items Including Cherry and Kiwi Added to Tariff Reduction List
Visits Hanaro Mart to Assess Supply and Prices of Agricultural, Livestock, and Marine Products

President Yoon Suk-yeol on the 18th instructed the government regarding measures for agricultural and livestock products and food prices, saying, "Each ministry, as the ultimate responsible party for prices, must ensure that tangible results are achieved in their respective areas that the public can feel."

That afternoon, President Yoon presided over a livelihood economy inspection meeting at Nonghyup Hanaro Mart Yangjae branch in Seocho-gu, Seoul, stating, "Prices are the public's top concern and the most fundamental measure by which policy achievements are immediately felt."

Despite five consecutive months of increasing export surpluses, record-high employment rates, and maintaining inflation rates in the 3% range, the inflation rate for daily necessities related to agricultural and livestock products and food remains high at 3.7%, due to rising international oil prices, poor fruit harvests last year, and adverse weather conditions in production areas in February.

At the meeting, President Yoon ordered extraordinary measures to lower grocery prices. The government plans to fully implement delivery price and discount support without restrictions on period, items, or scale until agricultural product prices stabilize at average levels.

Regarding this, President Yoon said, "We will provide even more exceptional support for apples and pears, which are expected to have a prolonged period of high prices due to cold damage," adding, "We will spare no policy support to stabilize prices of substitute fruits such as strawberries and oriental melons. Also, discount channels centered on large supermarkets will be expanded to traditional markets and online shopping malls." He further explained, "We will immediately inject 150 billion won of emergency agricultural and livestock product price stabilization funds prepared last Friday (the 15th) and expand support if necessary."

[Image source=Yonhap News]

Additionally, President Yoon emphasized that the government will significantly expand the list of items subject to quota taxation on imported fruits, agricultural products, and processed foods that can substitute for apples and pears, and will release unlimited quantities.

In the first phase, five items including cherries and kiwis, which have high market demand, will be added to the current 24 types of fruit tariff reduction items. For items with rapidly rising prices, the Korea Agro-Fisheries & Food Trade Corporation (aT) will directly import and supply them to consumers at low prices without import margins. In addition to currently imported bananas and oranges, pineapples, mangoes, and cherries will be promptly added and supplied to the market.

The government also plans to actively respond to market disruptions and unfair practices. President Yoon explained, "We will thoroughly check and inspect the field to ensure that the government's price stabilization support is effective. If there are cases of excessive price increases, collusion, or profiteering through market disruption and unfair practices, we will respond strictly."

President Yoon also stressed the importance of publicity, saying, "Above all, please always keep in mind that a policy unknown to the public is almost as good as no policy. Each ministry must ensure that no one misses out on benefits such as government discount support due to lack of awareness."

At the livelihood economy inspection meeting, President Yoon received reports from related ministries on price trends and response measures. First, Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance, reported on recent price trends; Song Mi-ryeong, Minister of Agriculture, Food and Rural Affairs, on agricultural and livestock product price trends and response measures; and Kang Do-hyung, Minister of Oceans and Fisheries, on seafood price trends and response measures.

During the subsequent discussion, various ideas and opinions were exchanged with representatives from the distribution industry, consumer groups, and merchant organizations regarding measures to stabilize perceived prices. Before the meeting, President Yoon visited the fruit, vegetable, seafood, and livestock product sales sections of Nonghyup Hanaro Mart, a representative agricultural and livestock product distribution company, to check supply and demand situations and price trends, and to listen to the opinions of consumers, producers, and sales staff.

Attending the meeting were Kang Jeong-hwa, Chairperson of the Korea Consumer Federation; Kwon Jang-hee, representative of Garak Market Seoul Wholesale Market; Yeom Ki-dong, CEO of Nonghyup Distribution; and Kim Ki-seong, Director of Cooperative Economy at the National Federation of Fisheries Cooperatives. From the government, Prime Minister Han Duck-soo, Minister Choi, Ministers Song Mi-ryeong and Kang Do-hyung, and Director Bang Gi-seon of the Office for Government Policy Coordination were present. From the Presidential Office, Policy Chief Seong Tae-yoon and Senior Secretary for Economic Affairs Park Chun-seop attended.

Prime Minister Han said, "Unexpected situations such as climate, which greatly affect agricultural production, may occur, so the government is prepared to implement more flexible policies." Regarding the application of government discount policies, he noted that traditional markets require more complicated purchasing procedures compared to large supermarkets and requested, "Please make efforts so that the same discount benefits can be received when purchasing at traditional markets, with government attention."

Yoon Visits Hanaro Mart to Check Prices: "If Apples Are Scarce, I Would Consider Substitutes"

[Image source=Yonhap News]

Just before the discussion, President Yoon visited Nonghyup Hanaro Mart Yangjae branch to hear opinions from citizens shopping and sales staff about the supply and demand situation and prices of agricultural, livestock, and seafood products. He first looked at Punggi apples sold at 6,230 won per 1.5 kg bag with government discount support and asked, "Is there enough supply for the public to consume?"

President Yoon also said, "I like apples too and eat them in the morning when I wake up. If apples become scarce these days, I might consider substituting them with something else." When a salesperson explained that small and imperfect apples were also in stock, he remarked, "Imperfect apples are sweeter and tastier."

Moving to the green onion sales section, President Yoon asked, "Hanaro Mart is selling them this cheaply here, but it would be difficult to buy them this cheaply elsewhere, right?" Regarding the green onion price, originally 1,700 won but sold at 875 won, he said, "I go to markets a lot, so I think 875 won is a reasonable price."

President Yoon's visit to Nonghyup Hanaro Mart Yangjae branch, a representative agricultural and livestock product distribution company, to discuss price measures is the first in 19 months since August 2022, his first year in office.

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