[Chuseok Livelihood Measures] 170,000 Tons of Seasonal Goods Released... Up to 60% Discount Sale

Import Fruit Quota Tariffs Extended Until Year-End
70 Billion KRW Discount Support... Seasonal Products Up to 60% Off

The government has decided to supply seasonal products on the largest scale ever to stabilize people's livelihoods ahead of the Chuseok holiday. The tariff quota on imported fruits will be extended until the end of the year, and seasonal products will be sold at discounts of up to 60%.

The government announced the "Chuseok Livelihood Stabilization Measures" containing these details on the 28th.

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The Ministry of Agriculture, Food and Rural Affairs expects the supply and demand of agricultural products among Chuseok seasonal items to be generally stable. A ministry official said, "Apples and pears, which had high prices last year due to decreased production, are expected to see increased production this year as there was little damage from cold weather or other disasters," adding, "The volume of shipments in preparation for Chuseok will also increase, making stable supply possible."

The government plans to manage the average price of 20 major seasonal products at a level lower than in 2021, before the high inflation period. To this end, it will supply a record 170,000 tons of the 20 major seasonal products and extend the tariff quota on all imported fruits (10 types) from September to the end of the year. Specifically, through stockpiling and shipment control, it will supply 12,000 tons of cabbage and radish, and increase the supply of major agricultural products such as apples and pears to more than three times the usual amount. Starting three weeks before the holiday demand peaks, supply to wholesale markets will be increased by 3.5 times compared to usual, and practical gift sets centered on small and medium-sized fruits will be provided.

Beef and pork supply will be increased by 1.4 times compared to usual, and the quantity and composition of practical gift sets priced under 100,000 KRW for Korean beef will be expanded. Egg supply will be increased one week before demand peaks (750 tons, 37.5% of total supply). Six popular fish species including yellow croaker and pollock will have their stockpiled quantities directly supplied to traditional markets and marts.

Price discounts will also be implemented. Through a total of 70 billion KRW in government discount support linked with producers' (self-help funds) and distributors' (self-discounts) efforts, major seasonal products will be sold at discounts of up to 60% both online and offline. The issuance scale of agricultural and fishery product vouchers for the elderly will be increased by 5.8 billion KRW, and the number of traditional markets participating in the Onnuri gift certificate refund program will be greatly expanded to 234. Additionally, livelihood gift sets composed of items with smooth supply such as Korean beef, rice, and abalone will be sold at discounts of up to 50%.

Song Miryung, Minister of Agriculture, Food and Rural Affairs, said, "Although prices of some vegetables have temporarily risen due to the recent record-breaking heatwave, raising concerns about Chuseok prices, supply and demand of Chuseok seasonal products are expected to stabilize as weather conditions improve closer to the holiday," adding, "We will mobilize all government capabilities to ease the burden of grocery prices for the public during Chuseok, the nation's biggest holiday."