The Ministry of Oceans and Fisheries has asked related industries to participate in efforts to stabilize sea salt prices ahead of the traditional kimchi-making season.
Minister Cho Seung-hwan on Friday called for cooperation between the kimchi-processing industry and the salt distribution and supply industry to stabilize supply and demand ahead of “kimjang.”
He added that the ministry is planning to supply one-thousand tons of government-stocked sea salt to traditional markets and large supermarkets starting from the end of this month, when demand will increase ahead of the season to facilitate discounts of more than 50 percent.
Government stockpiles will also be supplied to kimchi-processing companies and if necessary, imported sea salt will be stockpiled and supplied after a safety inspection.
The move comes as fears of contamination from the release of wastewater from the Fukushima nuclear power plant have led to a surge in demand for sea salt.
According to data from the Korea Agro-Fisheries and Food Trade Corporation, the price of five kilograms of sea salt stood at 12-thousand-918 won, or nine dollars and 56 cents, up 15 percent from a year earlier.