Agriculture Minister: "Chicken Price 30,000 Won Is Too Expensive... Will Review Prices"

Government Provides Annual Tax Benefits Worth 10 Billion KRW to Each Chicken Franchise
Jung Hwang-geun: "Measures Like Tariff Quotas and Financial Support Aim to Minimize Consumer Price Burden"

Minister Jeong Hwang-geun of the Ministry of Agriculture, Food and Rural Affairs attended the audit of the Ministry of Agriculture, Food and Rural Affairs held at the National Assembly on the 4th and responded to questions from lawmakers. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Yoon Seul-gi] As the prices of raw materials such as cooking oil and flour surge, concerns are growing among consumers that the era of 30,000 won chicken prices may be approaching. In this context, Jeong Hwang-geun, Minister of Agriculture, Food and Rural Affairs, stated that he "cannot agree" with some franchise companies' claims that 30,000 won per chicken is appropriate, adding that it is "too expensive."

Minister Jeong made these remarks on the 4th during the National Assembly's Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee's audit of the Ministry of Agriculture, Food and Rural Affairs, responding to a question from Ahn Byung-gil, a member of the People Power Party.

Earlier, Yoon Hong-geun, chairman of Genesis BBQ, argued in a March interview with YTN Radio that considering labor costs, slaughtering fees, and material costs, the price per chicken should be 30,000 won.

Regarding this, Representative Ahn said on the same day, "There was an uproar when an owner of a chicken franchise company said 'chicken should be about 30,000 won,'" and criticized, "'There is no profit' might be understandable from franchisees, but it is not something the headquarters should say."

He continued, "The government applies tariff quotas on cooking oil, flour, and other items, provides financial support to the chicken industry, and grants tax deductions exceeding 10 billion won annually per company," emphasizing, "A fact-finding investigation is necessary to determine whether the taxpayers' money and policies currently invested by the government to stabilize chicken prices are effectively reaching the public."

Minister Jeong responded, "The government's application of tariff quotas and financial support are all aimed at minimizing the consumer price burden," and added, "We will check whether the government's support is actually reflected in the prices."