President Yoon: "Supply Chuseok seasonal goods at the largest scale ever"

-5th Emergency Economic and Livelihood Meeting... "We must control prices so that the people can feel it directly"
-"Livelihoods are difficult due to high prices and heavy rain damage... Government should also support with discount coupons, etc."

[Image source=Yonhap News]

[Asia Economy Reporters Baek Kyunghwan and Song Seungyun] On the 11th, President Yoon Suk-yeol reviewed the prices and supply-demand trends of agricultural and livestock products and instructed to "supply Chuseok seasonal goods on the largest scale ever." With the early Chuseok and the combined damage to crops caused by heavy rain in the central region, he hastened to check the prices affecting ordinary citizens. He urged the swift release of various government subsidies to actively support vulnerable groups.

On the same day, President Yoon presided over the 5th Emergency Economic and Livelihood Meeting at Hanaro Mart in Yangjae-dong, Seoul, stating, "Please control the holiday shopping basket prices so that the public can feel the effects directly."

At the Chuseok seasonal goods sales site, President Yoon personally checked the supply situation and price trends of livestock products, fruits, and vegetables, saying, "We need to prepare for the holiday in advance, but due to high prices and heavy rain damage, people's livelihoods are more difficult than ever. To ease the burden of holiday shopping even a little, we must supply Chuseok seasonal goods on the largest scale ever, and the government should also provide support such as discount coupons."

President Yoon's directive reflects the soaring prices of agricultural products. For vegetables and fruits, some items have nearly doubled in price due to heatwaves and droughts. Additionally, due to heavy rain mainly in the central region, wholesale prices of some vegetables such as radish, zucchini, and cucumber have risen by up to 56% in the past five days. With heavy rain forecasted throughout this week, if additional damage continues mainly in rural areas, it could lead to supply instability.

President Yoon also mentioned ‘flood recovery support’ and ‘pest and disease prevention’ to prevent price instability caused by heavy rain damage. He emphasized, "Recovery and support are urgent. For areas with severe damage, all administrative power should be mobilized to complete compensation and support for small business owners before Chuseok so that the public can have a warm holiday."

He also ordered support for vulnerable groups. President Yoon said, "Relevant ministries should release various government subsidies as quickly as possible so that the public can have a warm holiday. I ask that free meal services be provided for those in need and that alternative measures such as lunchboxes be thoroughly prepared."

Furthermore, President Yoon stated, "Holiday funds should be promptly supplied to small and medium-sized enterprises and small business owners so that workers’ wages can be paid on time. Economic organizations and the government should cooperate to prevent wage arrears and ensure that subcontract payments are made early."