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Pres. Lee Orders Price Controls on 50 Necessities

Posted March. 18, 2008 03:03,   


President Lee yesterday instructed his Cabinet to contain inflation for 50 major living necessities.

“By controlling these prices through supply and demand management, we can prevent them from heading upwards despite the overall rise in consumer prices,” he told a briefing of the Knowledge Economy Ministry in Gumi, North Gyeongsang Province.

“The prices of oil, animal feed and crop have shot up stunningly in a short period of time. This is unprecedented.”