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Busan Establishes “Task Force for Agricultural Product Supply and Price Stabilization” in Response to Climate Change and Supply Issues

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Busan Metropolitan City (Mayor Park Heong-joon) announced the establishment of the “Task Force for Agricultural Product Supply and Price Stabilization” effective July 1 in response to ongoing agricultural product supply imbalances and price volatility caused by climate change.

○ It is expected that such imbalances will persist for some time due to internal and external factors, including ▲ increased volatility in agricultural production and supply resulting from climate change ▲ wildfires in the Gyeongbuk region ▲ natural disasters ▲ and rising production costs.

The newly established task force will preemptively and systematically manage agricultural product supply instability—such as sudden price fluctuations and poor crop growth—by stabilizing food prices.

○ The task force will also actively engage in initiatives to stabilize supply and prices, including ▲ expanding sourcing regions ▲ promoting direct transactions ▲ revitalizing distribution from production areas ▲ and conducting inspections to ensure price transparency.

In addition, during periods of high demand, such as Lunar New Year, Chuseok, and the kimchi-making season, the city will operate a “Response Team for Agricultural Product Supply and Price Stabilization” to strengthen special management measures.

○ The response team will carry out tasks such as ▲ expanding direct transactions to stabilize supply ▲ hosting traditional market rebate events for agricultural products before holidays ▲ conducting special inspections on country-of-origin labeling ▲ and monitoring prices.

Shim Seong-tae, Director General of the Oceans and Agriculture Bureau, stated, “Managing agricultural product prices is crucial as it significantly affects overall inflation. Given the anticipated continued instability in supply due to seasonal and climate factors, we will do our utmost through the newly established task force to ensure stable supply and prices of agricultural products.”