Han Byung-do: "Strict Sanctions for Price Gouging During the Holiday Shopping Season"

[Financial News] Han Byung-do, floor leader of the Democratic Party of Korea, said on the 10th that strict sanctions would be imposed on those who engage in price gouging by taking advantage of the holiday shopping season.
At a policy coordination meeting held at the National Assembly that day, Han said, "Price gouging during the holiday shopping season will face strict sanctions from the first violation. We will also track to the end unfair practices that harm people’s livelihoods, including the abuse of tariff quotas and collusion, monopolies, and oligopolies."
Han also stressed that the government and the party would take direct action to lower prices as experienced by consumers.
He said, "The government announced a supplementary plan yesterday (the 9th) to expand discounts on agricultural, livestock, and fishery products to a record 193 billion won," adding, "By allocating an additional 90 billion won to the initially available budget of 103 billion won, it demonstrated the Lee Jae Myung government's strong determination to stabilize prices for people’s livelihoods."
He continued, "Fortunately, the average cost of purchasing Chuseok ritual food items for a four-person family fell 1.3% from last year to 313,089 won," adding, "Clear positive signals are emerging for price stability. The Democratic Party of Korea will prove the figures of economic recovery through heavier shopping baskets and lighter receipts."  

[email protected] Kim Hyeong-gu Reporter