Home > Business > Economy

Gov't to supply record food stocks, expand discounts to stabilize prices ahead of Chuseok

Published: 15 Sep. 2025, 12:24 Updated: 15 Sep. 2025, 18:08

Radishes are piled up at a large supermarket in Seoul on Sept. 14, three weeks before the Chuseok holidays. [YONHAP]

The government said on Monday it will release a record 172,000 tons of major food items and expand discount programs worth 90 billion won ($64.5 million) to help stabilize living costs and boost household consumption ahead of the Chuseok holiday next month.

The measures, finalized at a ministerial meeting presided over by Finance Minister Koo Yun-cheol, come amid concerns over rising prices of key holiday goods despite overall inflation remaining within the Bank of Korea's 2 percent target.

Under the plan, the government will supply 1.6 times the usual volume of major food items before the holiday and offer discounts of up to 50 percent on popular Chuseok gift sets, such as fruits and premium Korean beef, known as hanwoo.

It will also operate about 2,700 direct-to-consumer markets nationwide to expand access to affordable goods.

"While signs of improvement in consumer sentiment are gradually emerging, it is crucial to spread this momentum to regional areas and small businesses," the Ministry of Economy and Finance said in a press release.

Yonhap