Finance minister Choo Kyung-ho said on Tuesday that the government has lowered tariffs on ten food items, including bananas and green onions, to stabilize food prices.  

The minister made the remarks while visiting a discount store in Seoul to check the prices of main food items including ingredients of kimchi.

Minister Choo said that the government lowered tariffs on a total of ten imported fruits and food ingredients Tuesday. 

Choo said the government will seek additional tariff cuts for other major food ingredients next year, such as corn, soybeans and sugar, while urging businesses to join the government’s efforts to ease the public’s burden from soaring prices. 

Regarding food companies’ reduction of the size or quantity of their products while maintaining prices, the minister said that such practices are not fair and companies must let consumers know of any adjustment to their products. 

He said the government is reviewing measures to ensure people are informed of such changes in consultation with the Fair Trade Commission and other relevant agencies.