Shoppers are seen purchasing food items at a supermarket in Seoul on Jan. 7, 2025. (Image courtesy of Yonhap)
SEOUL, Jan. 9 (Korea Bizwire) — South Korea plans to release a record amount of agricultural products into the market to stabilize prices and ease the financial burden on people ahead of the Lunar New Year, the government said Thursday.
Under the plan, the government will release 265,000 tons of 16 major agricultural items, including cabbage, beef and eggs, during the third week of January, which is roughly 1.5 times the normal volume, the government said.
In detail, the government will release a combined 10,000 tons of reserved cabbage and radishes, as their prices have risen by 70 percent and 89 percent, respectively, compared with a year earlier as of Wednesday.
Additionally, the government will release 30,000 tons of apples and 10,000 tons of pears cultivated under contract.
To further stabilize prices, South Korea will also adopt a tariff rate quota system for imports of fruits and vegetables, such as carrots and oranges.
As part of efforts to boost consumer sentiment, South Korea will allocate 90 billion won (US$616 million) to provide discounts on agricultural and livestock products.
The government also unveiled additional measures to promote domestic tourism during the holiday season, including waiving toll fees on expressways nationwide during the period.
South Korea will offer discounts of 30 to 40 percent on bullet train fares for trips from provincial areas to Seoul.
From Jan. 28 to 30, state-run art galleries will be open to the public free of charge, with relevant information posted on major mobile map applications, such as Naver and Kakao.
(Yonhap)
