Financial minister vows to stabilize food prices before holiday

Published : Jan 17, 2017 - 09:33 Updated : Jan 17, 2017 - 09:33

Finance Minister Yoo Il-ho said Tuesday that the government will double the supply of fresh vegetables and promote discounts of agricultural produce to ease household burdens ahead of the Lunar New Year holiday.

During a meeting with the ruling Saenuri Party, Yoo pledged to make efforts to stabilize consumer prices especially for the low-income bracket ahead of the nation's largest holiday season that falls on Jan. 27-30.

Finance Minister Yoo Il-ho (Yonhap)

"The price of eggs is expected to be somewhat stabilized starting next week when reserved and imported fresh eggs reach the market," Yoo added.

South Korea recently imported eggs from the United States as the outbreak of the bird flu in the country led to a price hike.

The minister also said the government will maintain a stable supply of electricity and gas and work together with local consumer advocates to monitor price movements. (Yonhap)