Photo = Yonhap news

 

 

[Alpha Biz= Kim Jisun] Fair Trade Commission (FTC) Chairman Han Ki-jeong has ordered close monitoring of recent price increases in the food industry to determine whether they stem from collusion or unfair practices.


During an expanded senior staff meeting on Monday, Chairman Han conveyed directives issued during an emergency cabinet and economic ministers’ meeting held after former President Yoon Suk-yeol’s dismissal on April 4.


“Given the recent rise in consumer prices, life is becoming increasingly difficult for the public,” Han said. “There were calls for the FTC to pay close attention to whether the price hikes in the food industry are a result of collusion or other unfair conduct.”


According to data released by Statistics Korea on April 2, prices of processed foods rose 3.6% year-on-year in March, marking the highest increase since December 2023 (4.2%) in the past 15 months.

 

 

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