Citizens are shopping at the E-Mart Food Market Godeok branch in Gangdong District, Seoul. (Yonhap)
SEOUL, Jan. 27 (Korea Bizwire) – Finance Minister Koo Yun-cheol said Tuesday the government will expand discount support for everyday items for the Lunar New Year holiday and supply more than 39 trillion won (US$26.94 billion) in funds for the self-employed and small businesses.
Koo made the remarks at a Cabinet meeting presided over by President Lee Jae Myung as part of measures aimed at stabilizing the people’s livelihoods during the upcoming holiday season, according to the Ministry of Economy and Finance.
“We will newly supply 39.3 trillion won in holiday funds for small merchants and small and medium-sized enterprises (SMEs). Loan guarantees will also be expanded to 58 trillion won,” Koo said.
The government will also offer discounts of up to 50 percent on mackerel and other high-demand items during the holiday season, and expand the range of products eligible for cashback events linked to state-issued gift certificates.
Authorities will step up efforts to curb excessive holiday pricing and accelerate investigations into potential price collusion involving sugar, flour, eggs and other key items, the minister added.
This year’s Lunar New Year is observed on Feb. 17, with the official holiday period spanning Feb. 16-18.
(Yonhap)
