Kim Beom-seok said, "200 billion won in food discount support next year...30 types of allocation duties"

The government has announced that it will invest 200 billion won next year to continue supporting food discounts at a time when prices are likely to rise again due to soaring exchange rates, abnormal climate, and uncertainties in international oil prices.

First Vice Minister of Strategy and Finance Kim Beom-seok made the remarks at the Seoul Government Complex today at a meeting of vice ministers on economic relations and the task force to check the economic and financial situation.

Vice Minister Kim said that prices have recently stabilized at around 1%, but due to upward pressure, he will invest 200 billion won next year to support discounts on agricultural and fishery products and apply allocation tariffs on 30 types of food and feed materials to cut tariffs by 330 billion won.

In line with the two-month extension of the oil tax cut, the oil price-linked subsidy will also be extended until the end of February next year to reduce the burden of fuel costs on buses, taxis, and lorries.

In addition, he said he will actively respond to livelihood damage through a small business field difficulty reception center to prevent economic sentiment from shrinking in line with the political situation, and make all-out efforts to attract tourism to Korea by operating a joint public-private tourism situation.

It also said it would improve the rule of imposing excessive punishment compared to obligations.

It said it would impose fines instead of fines for minor administrative obligations, such as violations of low-emission car stickers, and provide opportunities for improvement by issuing corrective orders first instead of immediately punishing those who misrepresent traditional liquor quality certification marks.