This file photo shows the duty-free zone of Terminal 2 of Incheon International Airport, west of Seoul, crowded with travelers on March 2, 2023. (Yonhap)
SEOUL, May 12 (Korea Bizwire) — South Korea’s finance ministry said Friday the government will issue a set of coupons for local accommodations and tour packages in line with efforts to boost domestic consumption.
The move came a day after President Yoon Suk Yeol declared an end to almost all COVID-19 restrictions in the latest step to return to pre-pandemic normalcy.
Under the measure, the government plans to offer 30,000-won (US$22.50) coupons that can be used at local accommodations, along with a 30 to 50 percent discount on high-speed KTX rides.
The finance ministry plans to provide more details next week.
“Recently, inflation in the South Korean economy has slowed, with domestic consumption also posting a gradual recovery,” First Vice Finance Minister Bang Ki-sun said.
“But to put the South Korean economy on a full-fledged recovery track, we need to maintain stable prices and the recovery in consumption, while revitalizing sluggish exports and investment,” Bang added.
(Yonhap)
