Finance Minister Choi Sang-mok announced plans to extend tariff reduction on fruit imports and implement a lower-tariff scheme for food materials in order to address inflation. The government initially applied tax reduction through the tariff-rate quota on 28 types of fruits, and has decided to extend this measure until the end of 2024. Additionally, the tariff reduction on 12 food materials, such as sugar and coffee beans, will also be extended, and a quota-based tariff adjustment scheme will be introduced for seven more food materials, including butter and whole milk powder. Choi emphasized the government's commitment to stabilizing prices and urged companies to collaborate in these efforts. Consumer prices rose 2.7 percent on-year in May, marking the second consecutive month of slowed price growth, with figures remaining below 3 percent. Choi expressed optimism that consumer prices are expected to stabilize at around mid-2 percent or below in the second half of the year, and the finance ministry anticipates a 2.6 percent increase in prices for the year.