Hamyang County Takes Action to Stabilize Prices in Response to Rising International Oil Prices

Hamyang County in South Gyeongsang Province has begun devising measures to stabilize the local economy in anticipation of a possible rise in international oil prices due to recent instability in the Middle East.

On the morning of March 16, Jin Byoungyoung, Governor of Hamyang County, presided over a senior staff meeting held in the county government’s main conference room. He expressed concerns that the economic fallout from the Middle East crisis, including soaring oil prices, could undermine the livelihoods of ordinary citizens, and instructed officials to strengthen price stabilization measures in areas closely tied to daily life.

Hamyang County Discusses Measures to Stabilize the Regional Economy Amid Middle East Instability - On-site Photos

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Governor Jin urged, “In preparation for the possibility that instability in the Middle East may be prolonged, please closely monitor the impact on small businesses and the local economy, and respond proactively.”

At the meeting, attended by the county governor, department heads, and division directors, participants also made a collective pledge to reinforce price stabilization efforts.

Later in the afternoon, a price stabilization policy meeting was held in the disaster response situation room at the county office. The meeting brought together the Director of Economic Welfare, as well as officials from the Job and Economy Division, Wild Ginseng Anti-Aging Division, Health Administration Division, Livestock and Agriculture Division, and Agricultural Products Distribution Division-departments closely related to residents' livelihoods.

During the meeting, participants examined the main factors driving increases in the prices of agricultural, livestock, and fisheries products, as well as services. They also analyzed government response plans related to developments in the Middle East, and discussed tailored countermeasures suitable for the situation in Hamyang County.

In particular, to minimize the impact of rising international oil prices on the local economy, they focused on measures such as ensuring the stable management of fuel prices, establishing order in distribution channels, and expanding energy welfare support for vulnerable groups, with an emphasis on protecting the livelihoods of residents.

A county official stated, “We will continue to monitor economic conditions such as international oil price increases resulting from changes in the Middle East situation, and will actively pursue price stabilization and livelihood protection policies that are tailored to the local context.”

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