s korea seeks to ease cost burden on firms for price stability
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

S. Korea seeks to ease cost burden on firms for price stability

Arab Today, arab today

Arab Today, arab today S. Korea seeks to ease cost burden on firms for price stability

Seoul - Yonhap

South Korea will explore ways to reduce the cost burden on companies as part of efforts to induce price stability for products frequently consumed by ordinary citizens, a senior finance ministry official said Tuesday. Vice Finance Minister Shin Je-yoon also asked for companies to intensify their own cost-cutting efforts in a way to share "suffering" with consumers who remain vulnerable to stubbornly high inflation. "The corporate sector needs to think about how it could share suffering and seek coexistence through its own efforts to lower production costs," Shin told other policymakers in a meeting. "The government, for its part, will explore ways to ease the cost burden on businesses that could include tariff (reduction) and improvement in distribution structure," he added. South Korea has been faced with stubbornly high inflation, partly due to rising prices of oil and raw materials that should be imported to manufacture products here. The nation's consumer prices rose 4.3 percent last month from a year earlier, easing from the 5.3 percent on-year gain in August. That still had exceeded the government's annual inflation target of 4 percent for nine straight months. Things remain uncertain as there are some other factors that could exert additional upward inflationary pressure such as possible hikes in public service charges and high home rental prices. Shin called on regional governments to step up efforts to minimize hikes in charges for such services as the subway, buses and tap water through close cooperation with each public service provider. He also noted that the government will keep monitoring the nation's home rental markets ahead of the full-swing moving season to ease the suffering of low- and mid-income people mostly exposed to surges in home prices.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

s korea seeks to ease cost burden on firms for price stability s korea seeks to ease cost burden on firms for price stability

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

s korea seeks to ease cost burden on firms for price stability s korea seeks to ease cost burden on firms for price stability

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday