Bigwigs tout traditional market
¼ö¾÷ÀÏ : 2011-07-21

 

Bigwigs tout traditional market
Public told to eschew chains to boost domestic economy and help vendors

È«ÁØÇ¥ "º¸³Ê½º, ÀüÅë½ÃÀå »óǰ±ÇÀ¸·Î"

 
 
  Finance Minister Bahk Jae-wan, center left, Federation of Korean Industries Chairman Huh Chang-soo, center, and Grand National Party Chairman Hong Joon-pyo chat with a vendor at Suyu Market in northern Seoul, yesterday. [NEWSIS]

Suyu Market in northern Seoul was unusually busy yesterday as three of the country’s bigwigs took a tour to wax poetic on the virtues of old-style shopping.

Finance Minister Bahk Jae-wan, Federation of Korean Industries Chairman Huh Chang-soo and newly elected Grand National Party Chairman Hong Joon-pyo descended on the market to squeeze tomatoes, sniff fish and encourage Koreans to patronize the traditional markets as a way of boosting the economy and helping small vendors.

“For the country’s economy to recover fully, households in the low- and middle-income brackets should first see improvements in their living conditions,” Bahk said after touring vegetable stores, meat shops and fruit stores. “And traditional markets, which are used by 360,000 individual vendors, play an important role in boosting the regional and national economies.”

Bahk’s comments came as the government emphasizes the need to boost the domestic economy, and urged public officials to use traditional markets for grocery shopping and other needs.

Vendors at these markets have complained increasingly about business lost to large discount chains.

The private sector has heeded the government’s call.

Samsung Group, the country’s largest business conglomerate, recently said it will spend around 100 billion won ($94.8 million) on gift certificates and coupons for its employees that can be used in traditional markets.

The Korea Chamber of Commerce and Industry also launched a campaign to encourage member companies and their employees to spend their summer vacations in Korea instead of traveling overseas in an effort to expand domestic consumption.

Huh, chairman of the FKI, said, “Conglomerates will also pitch in efforts to expand purchases of coupons that can be used in traditional markets.”

Last year, the private sector purchased 15 billion won worth of such coupons.

Meanwhile, President Lee Myung-bak held an emergency meeting with economy-related ministers yesterday to step up his war on inflation. Lee ordered the government “to release monthly a comparative table of prices for about 10 major daily necessities in the nation’s 16 provinces and metropolitan cities.” Items subject to price comparisons include bus and subway fares as well as vegetable prices.

Last month, the country’s consumer price index jumped 4.4 percent compared to the previous year, staying above 4 percent for the sixth straight month. Early this month, the government increased its inflation target for this year from 3 percent to 4 percent while lowering its growth outlook from 5 percent to 4.5 percent.


By Lee Eun-joo [angie@joongang.co.kr]

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