The government has decided to beef up efforts to stabilize prices until inflation reaches the target rate of two percent.

According to the finance ministry on Friday, officials from the ministries of finance, agriculture, industry and oceans, as well as officials from the Fair Trade Commission made the decision in a meeting on Friday. 

In the meeting chaired by presidential secretary for economy and finance Kim Bum-seok, the participants agreed to strengthen pan-government efforts to monitor and manage prices and supply amid lingering uncertainties until the inflation stabilizes at the two percent level. 
 
The government will continue to release its stockpile of vegetables – about 110 tons of Chinese cabbage and 100 tons of radish a day. 

As for fishery products, in order to prepare for a possible shortage in supply, the government decided to stockpile up to an additional two thousand tons of squid starting Friday, which began to be shipped into the country from late last month. 

The government has also launched a new task force to monitor prices and resolve issues on people’s livelihoods.