The government has launched a special system to stabilize consumer prices that assigns the role of price manager to the vice minister of each government agency.

First vice finance minister Kim Byoung-hwan convened a vice minister-level meeting of relevant agencies on Thursday to review measures on consumer price stabilization and people’s livelihoods, the first of its kind to be held since the launch of the Yoon Suk Yeol administration.

Under the system, each agency’s vice minister will inspect the prices and supply and demand of related goods and devise response measures for each item, with each agency installing their own response teams to deal flexibly with inflation.

As a result, the finance ministry’s price stabilization response team inspected the production center of key agricultural products, including eggs, napa cabbage and green onions.

The agriculture and fisheries ministries also activated their own response teams and heeded the difficulties faced by production and distribution centers.

The industry ministry’s oil market inspection team is monitoring the prices at gas stations on a weekly basis and increasing crackdowns on illegalities in distribution stages.

According to the finance ministry, the prices of Napa cabbage, a key ingredient in the staple Korean dish, kimchi, slipped by 50 percent as of Tuesday compared to last week, while the prices of green onions also recovered after surging late last month to levels posted in early October.