The South Korean government is set to monitor agricultural supply and pricing dynamics in the southeastern region, recently impacted by severe wildfires. The fires in North Gyeongsang Province have consumed over 38,000 hectares, affecting key crops like garlic, apples, chili peppers, and pine mushrooms.
First Vice Finance Minister Kim Beom-suk emphasized the need to "minimize damage to the local agriculture and livestock industries" while keeping a close watch on supply and demand to implement timely measures. This statement was made during a meeting centered on price stability.
In February, consumer prices in South Korea increased at a 2 percent rate for the second month, influenced by a weaker local currency that raised import costs. Despite a slowdown in the recent price surge of petroleum and agricultural products, Vice Minister Kim noted that the "cost burden remains high for certain vegetables, such as cabbage and radish, as well as processed food and dining-out expenses." He called for comprehensive efforts to stabilize these prices as they directly impact livelihoods.
Source: YNA