President Lee Jae Myung, right, speaks at a Cabinet meeting held at the Blue House in central Seoul on June 2. [JOINT PRESS CORPS]
President Lee Jae Myung on Tuesday instructed officials to take prompt action to stabilize consumer prices and called for stern punishment for those accused of market cornering.
The president issued the order at a Cabinet meeting, noting that the prolonged Iran war is weighing heavily on consumer prices and the public.
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Lee urged related ministries to "promptly implement necessary measures" to stabilize prices, including the preemptive release of government stockpiles and discount programs, adding that "significant" upward price pressure persists despite the government's cap on oil prices and other measures.
