Seoul: The government has designated January 27 as a temporary holiday, aiming to boost private consumption and encourage domestic tourism in the lead-up to the Lunar New Year. This decision was made during a Cabinet meeting held on Tuesday.

According to Yonhap News Agency, the approval of this motion will extend the holiday period to six days, from January 25 to January 30, with Lunar New Year's Day falling on January 29. This extension is expected to provide a significant boost to the economy by encouraging citizens to travel and spend more within the country.

Furthermore, the country's financial markets, including the stock exchange, will remain closed throughout the holiday period, now incorporating January 27 as well. This move is anticipated to give people a chance to participate more in the traditional celebrations without the usual concerns of work and financial market commitments.

Seol, or Lunar New Year's Day, stands as one of South Korea's most significant traditional holidays. During this time, many South Koreans return to their hometowns to engage in ancestral rituals and enjoy family gatherings. The extended holiday is expected to facilitate these cultural practices, allowing more people the opportunity to partake in these time-honored traditions.