Lee Hyoung-il, the nominee for deputy prime minister for economy and minister of economy and finance, said on the 7th that the government will finalize and announce supplementary measures to its Chuseok livelihood stabilization package this week, including discounts on agricultural, livestock and fishery products and an expanded seafood supply.
Lee, who currently serves as first vice minister of economy and finance, made the remarks during a visit to Kkachisan Market, a traditional market in Seoul's Gangseo District, where he reviewed supply and demand trends for holiday staples and the progress of the Chuseok package. He checked prices of vegetables and fruits, as well as six popular fish species including mackerel and pollock, of which 20,000 tons from government reserves have been released at discounts of up to 40% below market prices. "We will do our utmost to ease the burden of grocery prices through an expanded supply of holiday staples and discount support," he said.
Price stability is a task Lee has emphasized repeatedly as concerns mount over rising prices of holiday staples and farm, livestock and fishery products ahead of Chuseok. At his first press briefing on the 2nd of this month, he said grocery prices in people's daily lives are the economic team's report card.
President Lee Jae-myung also pressed the nominee to focus on stabilizing prices of holiday staples when he received a report on the Chuseok package at a recent Cabinet meeting. "Everyone complains that prices go up when Chuseok comes around. Are you confident this time? I could withdraw the nomination for finance minister, so is this really certain?" the president said in a pointed joke.
Lee also held a meeting with small business owners at the Korea Federation of Micro Enterprise's digital education center in Seoul's Mapo District on the same day. "Stabilizing the operations of small business owners and supporting their growth are important to easing polarization in our economy," he said. "We will make every policy effort to ensure the warmth of growth reaches all small business owners."
