Finance minister Choi Sang-mok said on Tuesday that prices are likely to rebound in July due to bad weather and a base effect.

The minister made the remarks in a meeting with economy-related ministers, saying that the government will remain vigilant and do its best to stabilize prices. 

The government plans to release more than 300 tons of cabbages and radishes per day this month to stabilize the supply of agricultural products. 

The minister expected prices to stabilize after August as overall conditions, including agricultural supply and demand, improve. 

Choi also took note of the damage caused by recent heavy rains and pledged all available resources to support affected local residents and recovery efforts.