South Korea releases 20,000 tons of seafood to stabilize Chuseok prices

The South Korean Ministry of Oceans and Fisheries is releasing a record 20,000 tons of government-reserved seafood to stabilize prices ahead of the Chuseok holiday. The supply initiative runs from August 24 to September 27.

Key items being released include 15,700 tons of pollack, 1,700 tons of squid, 1,500 tons of mackerel, 800 tons of hairtail, 200 tons of yellow croaker, and 100 tons of dried anchovies. These products will be available at major supermarkets, traditional markets, and online/offline wholesale markets at discounts of up to 40% compared to market prices.

To increase consumer convenience, the government is also providing processed items such as frozen pollack fillets, mackerel fillets, and whole cod to reduce preparation time. Minister Hwang Jong-woo stated that the ministry will continue to monitor supply and demand daily to ensure effective price stability measures during the holiday season.