Government aims for a Lunar New Year without worries about grocery bills, mobilizes all-out price stabilization measures

[The Financial News]
The Ministry of the Interior and Safety (MOIS) announced on the 1st that it will implement a "Lunar New Year Price Stabilization Management Plan" so that people can prepare for the holiday conveniently and with peace of mind, without worrying about their grocery bills.
From the 2nd to the 18th of this month, MOIS will designate a "special period for Lunar New Year price stabilization" and strengthen on-site responses, including fully operating a Comprehensive Price Management Situation Room.
To ensure practical, field-oriented price management, directors at the provincial and metropolitan government level will be appointed as regional price officers. Under the principle of "I am responsible for prices in my region," they will closely monitor and manage local prices, including those of major Lunar New Year items in their jurisdictions.
In addition, to root out unfair trading practices that seek to exploit the holiday rush, the government will operate a Price Gouging Report Center that allows anyone to report cases quickly and easily by phone or QR code (area code + 120, or 1330).
In principle, on-site investigations into reported cases will begin within 24 hours. When price gouging is uncovered, such as violations of price display rules, authorities will immediately issue corrective recommendations or impose fines, taking strict action to raise awareness and deterrence.
In particular, as excessive price gouging in some regions has recently emerged as a social issue, MOIS will form a joint inspection team with local governments and civic organizations to carry out intensive on-site inspections.
The joint inspection team will continuously monitor unfair practices such as price gouging and will further strengthen enforcement against market-disrupting behavior that increases the burden on people’s livelihoods, including poor management of prices for key Lunar New Year items.
Meanwhile, transportation measures have also been prepared to make it easier for people to visit traditional markets.
To allow people to use traditional markets without worrying about parking, parking will be permitted for up to two hours on roads around 426 traditional markets nationwide during the special countermeasure period.
However, areas directly related to safety—such as around fire-fighting facilities, child protection zones, and locations with frequent traffic accidents—will be excluded from the parking allowance. Local governments plan to minimize inconvenience to residents by putting up information banners and deploying parking staff.
To revitalize local commercial districts, the government will promote greater use of businesses certified under the Good Price Business Certification Program, which offer low prices and quality services.
Customers who use these Good Price Business Certification Program establishments will receive a 2,000 won discount when they spend 10,000 won or more with a domestic credit or debit card.
From the 2nd to the 22nd of this month, people who visit these certified businesses and take part in the Support Your Neighborhood Shops Event by posting reviews will be eligible to receive souvenirs through a prize draw, among other benefits.
Minister Yun Ho-jung stated, "Price gouging on key Lunar New Year items is a serious issue that makes it even harder for ordinary households to fill their shopping baskets, so the central and local governments, businesses, and citizens will work together to eradicate it at the root."

ktitk@fnnews.com Kim Tae-kyung Reporter