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[Seoul=Newsis] Kim Beom-seok, Vice Minister of Planning and Finance, chaired the 27th Vice Ministerial Meeting on Price Relations at the Seoul Government Seoul Office in Jongno-gu, Seoul on the morning of the 26th. (Photo=Provided by the Ministry of Planning and Finance) 2024.07.26. [email protected] *Do not resell and no DB /Photo=newsisphoto
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, ‘[Financial News] Vice Minister of Planning and Finance Kim Beom-seok said on the 26th, “Expand the supply of agricultural products due to flood damage and respond vigorously to price management.”‘,

, ‘On this day, Vice Minister Kim held a meeting of vice ministers on price relations at the Seoul Government Seoul Office to inspect the current situation of agricultural products disrupted by recent heavy rain, and discussed price trends and stability measures by product such as livestock, fisheries, and petroleum.’,

, ‘Vice Minister Kim stated, “Although consumer prices have declined in the 2% range for three consecutive months and an overall price stagnation trend has continued, interruptions in the supply of some agricultural products due to concentrated heavy rain in July and fluctuations in international oil prices could widen the inflation rate.” urging all ministries to respond vigorously to price stability to ensure that a stable price trend is firmly established starting in August.”‘,

, ‘The government is strengthening early stabilization of agricultural product prices and responses to additional damage. To stabilize the supply of vegetables such as lettuce damaged by flooding, the period for assessing disaster insurance payments will be shortened from 7 days to 3 days, and advance payments will be made from the 18th. ‘,

, ‘For cabbage and radishes, which show significant changes in production volume during the summer season, the government has secured the largest available volume to date by securing 28,000 tons and is supplying over 300 tons per day, and plans to respond flexibly by increasing shipments depending on the supply situation.’,

, ‘The government also plans to continue efforts to stabilize consumer prices in high-impact daily necessities such as fisheries, petroleum products, and daily necessities. As of July, 886 tons of stored fish products have been supplied (82.8% of the plan).’,

, ‘For petroleum products, continuous checks are being conducted to prevent unjustified and excessive price increases through the operation of a multi-ministry petroleum market inspection team.’,

, ‘Starting from August 3rd, manufacturers will be obligated to inform consumers in advance of any reduction in the volume of daily necessities. The government plans to prepare and implement this measure smoothly on-site without any disruptions through business operator notifications, etc.\n’]