The state antitrust watchdog will strengthen measures to prevent “shrinkflation” by companies that reduce product volumes while maintaining current prices.

According to the Fair Trade Commission on Wednesday, businesses caught engaging in such a scheme could face fines of up to 30 million won, or around 23-thousand U.S. dollars, up from the current ten million won.

The environment and food safety ministries will compel manufacturers to label product packaging with information on volume changes, and the industry ministry will expand its list of items requiring the declaration of unit prices from the current 84.

The Korea Consumer Agency will form a price investigation team next year to monitor the prices of over 500 products after the state agency recently found shrinkflation in 19 processed food items out of 209 probed.