The government has decided to inject an additional ten billion won into a major discount campaign for agricultural, livestock and fisheries products in an effort to stabilize prices ahead of the Lunar New Year holiday.

Finance minister Choi Sang-mok announced the decision on Friday during the opening remarks for an emergency economy meeting. 

The minister said that the government will allocate an additional ten billion won budget for a discount program aimed at stabilizing the escalating prices of apples and pears. He also pledged preemptive measures to prepare for any future instability in the supply and demand of these fruit items.

Minister Choi added the government aims to keep the average prices of farm products in high demand for the holiday below those of the previous year, by expanding the supply and carefully managing the discount program. 

According to Statistics Korea on Friday, consumer prices of agricultural, livestock and fisheries products rose eight percent in January from a year earlier, with the prices of apples and pears soaring 56-point-eight percent and 41-point-two percent, respectively.