The government has designated 23 key items, such as petroleum products, rice and telecommunications fees, for special price monitoring amid resource supply concerns in the wake of the Middle East crisis, the finance ministry said Thursday.
The items include 13 key food products closely tied to household living costs, five service charges, such as telecommunications fees, fuel products and five manufactured goods, including school uniforms, the ministry said.
The decision was made during a ministerial-level task force meeting on price management for people's livelihoods, presided over by Finance Minister Koo Yun-cheol.
"We will respond firmly to excessive price hikes that exploit the crisis and work to ease the burden on consumers," Koo said.
He added that the government will also enforce a notice banning hoarding and stockpiling of petroleum products to prevent unfair practices, such as withholding supply or refusing sales under the pretext of the price ceiling.
"Refiners must ensure sufficient supply so that there are no disruptions in fuel availability, and gas stations must not refuse sales without justifiable reasons," he said. (Yonhap)
