South Korea has announced emergency tariff quotas on chicken and pork to ease rising food costs. The measures, announced on May 14, reflect growing concern over rising consumer costs amid global supply disruptions and regional conflicts.
Tariff quotas on chicken and pork
Authorities approved tariff relief on 30,000 tons of chicken until the end of July 2026. A separate quota covering 12,000 tons of pork will run until the end of the year. Officials said the quotas are intended to stabilize household budgets and reduce consumer burdens.
The decision followed a joint meeting of senior officials from the Ministry of Economy and Finance, the Ministry of Agriculture, Food and Rural Affairs, and the Ministry of Oceans and Fisheries.
Representatives from the Korea Customs Service and the Fair Trade Commission also attended. The ministries agreed to monitor import volumes and retail prices to ensure tariff benefits reach consumers.
Expanded supply and discount programs
The government will release 8,000 tons of seafood reserves, including mackerel, squid, cutlassfish, and pollock. Pork supplies will be expanded at wholesale markets starting in May.
To further support consumers, USD 14.9 million in discount programs will be offered for agricultural, livestock, and fisheries products during May and June. Officials are also reviewing additional egg imports from Thailand and the US to secure stable supplies.
Beyond food, the government is addressing transport costs. The diesel subsidy cap for bus and freight operators will rise from USD 1.33-1.42/L. Civic groups will continue operating “good gas stations,” a program designed to stabilize petroleum prices. These measures aim to prevent rising fuel costs from worsening inflationary pressures.
Crackdown on hoarding and unfair gains
Authorities pledged stronger enforcement against hoarding and unjust enrichment. Planned revisions to the Price Stabilization Act include a confiscation system, whistleblower reward programs, and surcharges on unfair gains.
Officials stressed that these steps are necessary to ensure emergency measures benefit consumers rather than speculative traders.
Sustained vigilance on inflation risks
The government’s actions highlight its multi‑layered approach to inflation control. By combining tariff relief, expanded imports, subsidy adjustments, and stricter enforcement, Seoul aims to protect households from sudden spikes in food and fuel costs. Officials said the measures will remain under review, with adjustments possible depending on market conditions.