South Korean Finance Minister Choo Kyung-ho has announced plans to inject additional volumes of napa cabbage into the market ahead of the upcoming kimchi-making season, also known as "gimjang". Minister Choo said the government will release state reserves of napa cabbage early in a proactive move to stabilize prices until imports of napa cabbage and radishes arrive next month.
The minister said around 600 tons of napa cabbage would be imported for kimchi-making by late September, about ten days sooner than originally planned. Additional relief measures will be announced next month.
The supply of napa cabbage has been low ahead of the Chuseok holiday earlier this month, as heavy rains brought by typhoon Hinnamnor destroyed parts of the supply. According to Korea Agro-Fisheries & Food Trade Corporation, the wholesale price of ten kilograms of Napa cabbage as of September 16 had jumped 116.6 percent YoY.
Source: world.kbs.co.kr