Seoul: Finance Minister Koo Yun-cheol announced that the government will supply over 39 trillion won (US$26.94 billion) in support funds targeting the self-employed and small businesses for the Lunar New Year holiday. This initiative is part of broader measures to stabilize the livelihoods of citizens during the holiday period.

According to Yonhap News Agency, the announcement was made during a Cabinet meeting led by President Lee Jae Myung. The Ministry of Economy and Finance detailed that the new funding includes 39.3 trillion won specifically allocated for small merchants and small and medium-sized enterprises (SMEs). Furthermore, loan guarantees will be increased to 58 trillion won to support these sectors.

The government will also implement discounts of up to 50 percent on essential holiday items such as mackerel and other high-demand products. Additionally, the range of products eligible for cashback through state-issued gift certificates will be expanded.

Authorities are also taking steps to prevent excessive pricing during the holiday season. Investigations will be accelerated into potential price collusion involving key items such as sugar, flour, and eggs. The Lunar New Year will be observed on February 17, with the official holiday period running from February 16 to 18.