South Korea to invest 64 billion won to stabilize Kimjang ingredient prices

The South Korean government has announced a 64 billion won stabilization plan to reduce the cost of ingredients for Kimjang, the traditional season for making kimchi. This represents the largest scale of support to date, aimed at easing the financial burden on households.

The plan allocates 44 billion won to agricultural and livestock products, offering discounts of up to 40 percent on essential items such as cabbage, radish, and pork for boiled meat. An additional 20 billion won will be directed toward seafood, providing up to 50 percent discounts on items like salted shrimp, oysters, and anchovy sauce through special sales events.

While the production of autumn cabbage and radish is expected to increase by 18.5 percent and 11.1 percent respectively, the government is implementing these measures to ensure supply stability and encourage consumption. To prevent shortages, the government has pre-secured 46,500 tons of cabbage and 9,000 tons of radish.

This initiative comes as recent consumer price index data showed a 2.8 percent year-on-year increase, driven largely by rising costs in petroleum and processed foods. The government intends to monitor distribution structures and crack down on unfair practices to ensure that fiscal support effectively reaches consumers.