Major grocery chains and convenience stores will begin rolling out deep discounts on staple food products, such as ramen, bread and coffee, in a government-backed effort to help stabilize prices.
The Ministry of Agriculture, Food and Rural Affairs unveiled the plan on Monday following a meeting held last Friday with food and distribution companies, during which they agreed to launch a large-scale summer discount event starting this month to ease the financial burden on consumers.
Companies including Nongshim, Ottogi and Paldo will offer discounts ranging from ten to 50 percent on select ramen products at major supermarkets, and run two for one and two-plus-one promotions at convenience stores.
SPC will offer discounts of up to 50 percent on its bread and hotteok products sold at supermarket chains through July 17, while Dongseo Food will run buy one get one free promotions on its coffee products.
Meanwhile, CJ and Daesang will hold special events and offer discounts on their kimchi products sold in stores, online retailers and home shopping channels.
The summer discount plan comes five days after the government released its June consumer price trends report and vowed efforts to curb inflation, particularly for processed foods.
Consumer prices for processed foods rose four-point-six percent last month from a year earlier, marking the highest increase since November 2023.
