ID :
184525
Thu, 05/26/2011 - 06:56
Auther :
Shortlink :
https://oananews.org//node/184525
The shortlink copeid
Lee calls for transparent price-setting system
SEOUL, May 26 (Yonhap) -- In an apparent criticism of local industries' price-setting systems, President Lee Myung-bak said Thursday that industries should set prices for domestic consumers in a transparent manner.
"It is important for companies to pursue profits, but they should think from the perspective of public interest," Lee said during an economic policy consultation meeting, according to presidential spokeswoman Kim Hee-jung.
"They should set prices in a transparent way," the president said.
Lee's remarks are seen as a criticism of the current structure in which companies are quick to reflect increases in the prices of farming and fisheries products but slow to reflect decreases in such prices.
The government has been striving to tame inflation as concerns are growing that rising prices could emerge as a heavy drag on the country's overall economic recovery.
The government is watching closely to see if there is any speculative element in the domestic distribution process of products, Lee said, adding there is a possibility of speculation if prices jump despite global supply and demand balance.
"It is important for companies to pursue profits, but they should think from the perspective of public interest," Lee said during an economic policy consultation meeting, according to presidential spokeswoman Kim Hee-jung.
"They should set prices in a transparent way," the president said.
Lee's remarks are seen as a criticism of the current structure in which companies are quick to reflect increases in the prices of farming and fisheries products but slow to reflect decreases in such prices.
The government has been striving to tame inflation as concerns are growing that rising prices could emerge as a heavy drag on the country's overall economic recovery.
The government is watching closely to see if there is any speculative element in the domestic distribution process of products, Lee said, adding there is a possibility of speculation if prices jump despite global supply and demand balance.
