Gov't to offer 40 tln won to SMEs ahead of Chuseok holiday


Prime Minister Han Duck-soo, presidential chief of staff Chung Jin-suk, and Han Dong-hoon, leader of the ruling People Power Party, gathered for a high-level meeting at the prime minister's official residence in Seoul. During the meeting, it was announced that the government plans to allocate approximately 40 trillion won ($30.1 billion) to provide financial assistance to small and medium-sized enterprises, as well as micro business owners, in preparation for the upcoming Chuseok holiday. This decision was reached as part of efforts to stabilize prices and support small business owners, according to People Power Party spokesperson Han Zeea. Additionally, South Korea will supply a record-breaking 170,000 tons of essential holiday-related food items, such as cabbage, apples, and pears, to help manage consumer inflation, which typically surges prior to the Chuseok holiday due to increased demand for vegetables and eggs as families prepare for festive meals. Furthermore, the government and the People Power Party have agreed to waive highway tolls and offer discounted KTX and SRT train tickets for individuals traveling from the provinces to the capital area during the Chuseok fall harvest holiday, which is scheduled to take place from September 14 to September 18 this year. These measures aim to alleviate the financial burden on travelers and facilitate smoother movement during the holiday period.


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