The government has announced plans to provide a historic amount of 170,000 tons of popular food items and offer a discount of 70 billion won ($52.63 million) for the upcoming Chuseok holiday. These measures are part of a larger effort to support people's livelihoods and control inflation before the important traditional holiday. Additionally, the plan includes providing financial assistance to small and medium-sized businesses and micro-business owners. As part of the plan, the government will supply a record 170,000 tons of essential holiday-related food items, such as cabbages, apples, and pears, to help stabilize their prices. This marks the largest amount ever supplied for this purpose. With the demand for vegetables, eggs, and other food items typically increasing in South Korea before the holiday due to preparations for family gatherings, the government will also extend the tariff-rate quota scheme for 10 types of imported fruits to lower tariffs through the end of the year. Furthermore, a record 70 billion won will be allocated to provide discounts on major agricultural and fisheries products for Chuseok, and a government-wide task force will be established to monitor the prices of key items on a daily basis. The plan also encompasses extending 43 trillion won in loans and other financial support to small and medium-sized enterprises, as well as easing rules to offer electricity bill discounts to a larger number of self-employed individuals with small businesses. To stimulate domestic demand, the government will issue 500,000 discount coupons for accommodations and advocate for tax incentives related to corporate spending for the holiday. "Prices have largely been stabilized, and the economy is on a recovery track led by exports. But prices of farm produce and other Chuseok items are high due to the recent heat wave, and domestic demand remains weak," Finance Minister Choi Sang-mok stated during an economy-related ministers' meeting. He emphasized that the policy priority will be on stabilizing prices and improving the economic situation for the people. In July, consumer prices, a key gauge of inflation, rose 2.6 percent year-on-year, driven by high prices of fruits and petroleum products, indicating an increase from the 2.4 percent rise a month earlier. The government has projected that the country will achieve its target inflation rate of 2 percent by the end of 2024, although prices are expected to ease at a slower pace than previously anticipated.