The government will temporarily lift tariffs on seven additional types of imported foodstuffs in a bid to stabilize consumer prices and ease the burden on people's livelihoods.

The decision was announced on Friday as a part of the government's livelihood stability plan announced during the first emergency economic and livelihood meeting presided over by President Yoon Suk Yeol.

Under the plan, 100-thousand tons of imported beef and 82-thousand-500 tons of chicken imports will be exempt from tariffs starting this month, with the exemption also applied to pork, powdered milk, coffee beans, green onions and ethanol materials.

While the tariff rate on imported beef is set at 40 percent, a rate of ten-point-six is applied to U.S. beef while Australian beef is taxed at 16 percent per free trade agreements.

With around 90 percent of all beef imports coming from the two countries, the government expects the tariff removal to reduce the imported beef prices by up to eight percent.

The removal of tariffs on imported chicken is also forecast to noticeably bring down consumer prices, as 94 percent of overall imports come from Brazil and Thailand, which are subject to about 20 to 30 percent tariffs.

Officials estimate the extended scheme to have the same effect as providing state support worth 329 billion won.