Koo Yun-cheol, serving as Finance Minister and Deputy Prime Minister for economic affairs, pledged on December 2, 2025 that the government will make an “all-out effort” to curb food-related inflation, which has been burdening ordinary households. Last month, consumer prices rose 2.4 % year-on-year, exceeding the Bank of Korea’s 2 % inflation target for a third straight month. The rise was driven largely by increased prices for agricultural and petroleum products. To stabilize food costs, the government plans to deploy all available policy tools, including expanding tariff-rate quotas on major food and feed ingredients. Among the measures, the quota volume for sugar will increase by 20 %, and preferential tariff rates on foods such as coffee, processed eggs, feed barley, and other essentials will be extended into next year. In addition, reduced tariffs on energy-related imports — such as liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil for naphtha production — will be maintained at zero through at least the first half of 2026, to help curb fuel and energy-driven inflationary pressures. (ICE SEOUL)

Fonte notizia: KOREA JOONGANG DAILY