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South Korea has decided to apply zero tariff on seven imported daily necessities to stabilize prices

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According to the Yonhap News Agency on July 19, South Korean President Yoon Seok-Youl presided over a cabinet meeting on July 19, voted to "beef, chicken, pork, milk powder, coffee beans, alcohol raw materials, onions and other seven imports of daily necessities, zero quota tariffs." In order to ease the burden of high prices, the South Korean government recently held an emergency economic and livelihood meeting to study countermeasures. The zero-tariff on seven imported daily necessities is part of the measure to stabilize prices.


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