Acting Fisheries Minister Reviews Factors Affecting Grocery Prices, Vows Full Effort to Stabilize Costs
Creatrip Team
7 months ago
Acting Minister Kim Seong-beom of the Ministry of Oceans and Fisheries held a task force meeting on Feb. 9 in Busan to closely monitor supply and prices of seafood, which affect overall grocery (shopping basket) inflation. The meeting reviewed supply status across production, import-export, distribution and consumption for key seafood items and checked whether current policy measures are working at the field level. The ministry pledged strict management to ensure government actions translate into real price reductions and asked for additional policy options. As part of holiday relief measures, the ministry is running a ‘Korea Seafood Fair – Lunar New Year Special’ offering up to 50% discounts at marts and online malls and releasing 13,000 tons of reserve seafood to stabilize supply and prices. Kim emphasized the need to assess all stages—production, distribution, consumption and trade—to identify factors affecting prices and said the whole ministry will concentrate efforts to protect household living costs.
