Seoul: The government has designated 23 key items, including petroleum products, rice, and telecommunications fees, for special price monitoring amid resource supply concerns in the wake of the Middle East crisis, the finance ministry announced Thursday.

According to Yonhap News Agency, the designated items comprise 13 key food products closely tied to household living costs, five service charges such as telecommunications fees, fuel products, and five manufactured goods, including school uniforms. This decision was reached during a ministerial-level task force meeting on price management for people's livelihoods, presided over by Finance Minister Koo Yun-cheol.

"We will respond firmly to excessive price hikes that exploit the crisis and work to ease the burden on consumers," Finance Minister Koo Yun-cheol stated. He emphasized that the government would enforce a notice banning hoarding and stockpiling of petroleum products to prevent unfair practices, such as withholding supply or refusing sales under the pretext of the price ceiling.

Minister Koo also insisted that refiners must ensure sufficient supply to avoid disruptions in fuel availability, and gas stations should not refuse sales without justifiable reasons.