Koo made his remarks during a meeting with representatives from agencies and associations focused on food price stability at the Export-Import Bank of Korea in Seoul. Participants included officials from the Ministry of Agriculture, Food and Rural Affairs, the Ministry of Oceans and Fisheries, and the Fair Trade Commission, along with representatives from various organizations such as the Korea Agro-Fisheries & Food Trade Corporation (aT), the Livestock Quality Assessment Institute, the National Agricultural Cooperative Federation, the National Federation of Fisheries Cooperatives, the Food Industry Association, the Korea Consumer Agency, and the Consumer Organization Council.
The Ministry of Finance aimed to share perceptions of the current price situation among relevant agencies and associations and to gather opinions for effective price stabilization measures. The meeting addressed practical strategies for price stability, including fiscal and tax support.
Koo emphasized that stabilizing living costs is the government's top priority, noting that inflationary pressures remain. He pointed out that the effects of accumulated energy price increases will continue even after the conflict's resolution, alongside uncertainties such as unusual weather patterns in summer. He affirmed, "We will mobilize all available means, including fiscal, tax, and financial resources, to stabilize prices and alleviate the burden on the public."
Attendees at the meeting expressed a shared understanding of the importance of price stability. They also outlined plans to support essential goods, expand supply, reduce living cost burdens, and eliminate unfair practices such as collusion to align with the government's price stabilization efforts.
Finally, Koo requested active cooperation from relevant departments and agencies to enhance the effectiveness of the government's price reduction policies. The government is expanding the list of items subject to tariff quotas and implementing measures such as a maximum price system for oil to reduce energy costs. He stated, "The government is pursuing price stabilization policies through improvements in distribution structures, diversified price monitoring, public disclosure of price information, and tariff quotas, and I urge all departments and agencies to do their utmost on the ground."
* This article has been translated by AI.
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