On December 12, South Korea's government, led by Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol, held a task force meeting to address rising costs of living. They announced a list of 23 essential items that will be monitored closely, focusing on products suspected of unfair trade practices and those benefiting from lower tariffs. The selected items include a variety of food essentials such as pork, frozen meats, eggs, mackerel, rice, beans, and cooking oil.

The initiative emphasizes consumer protection against price inflation, particularly in essential goods. Among the 23 items, food products comprise a significant portion, showing increased scrutiny on pork and flour due to confirmed instances of price collusion. The government is also targeting mackerel, which continues to see rising prices despite tariff protections, prompting intervention from the Ministry of Oceans and Fisheries. Moreover, control measures will extend to service charges, including high-pricing regulations for fuel and management fees in apartment complexes, indicating a broader approach to price regulation.

The structured approach, driven by the understanding that various government departments should collaboratively address the issue, aims for lasting reform rather than one-time solutions. The Fair Trade Commission plans to investigate suspected unfair trading and may impose 'price re-determination orders' leading to potential price decreases. This multifaceted strategy also includes provisions for monitoring the resale market, especially for tickets, as well as adjustments to regulations governing essential goods like printed paper, school uniforms, and other necessary consumer items, thereby addressing public concerns regarding fair pricing and consumer rights.