Ahead of the Lunar New Year's Day, cabbage rose 59% and radish rose 77%.Price management measures announced this week

With prices of some agricultural products strong ahead of the Lunar New Year, the government will announce price control measures as early as this week.

The Korea Agro-Fisheries & Food Trade Corporation said on the 3rd that the average retail price of cabbage was 5,27 won per head, up 58.9% and 33.9%, respectively, compared to a year ago and a year earlier.

In addition, radishes were 3,266 won per piece, 77.4% more expensive than a year ago, and 52.7% higher than the average year.

The average annual price refers to the three-year average excluding the maximum and minimum prices from 2020 to last year.

The rise in cabbage and radish prices is due to the impact of climate change and early shipments of cabbage and radish to stabilize prices during the kimchi-making season last year.

As a result, the government will announce price management measures as early as this week ahead of the peak Lunar New Year season.

During this year's Lunar New Year's peak season, the government plans to increase the supply of high-quality goods such as apples and Korean beef to the highest level ever and support discount events to the maximum.