4 Measures to Stablize Civilian Lives Announced By the South Korean Gov’t

Here Are Four Measures To Stabilize Civilian Life Announced By The South Korean Government

  • Decided to postpone the electricity price hike for 3.65 million vulnerable households for another round.
  • The benefit of reducing loan interest for small businesses and the self-employed, which will be in effect from February, will be extended to those who have borrowed from non-banking sectors from March.
  • The monthly purchase limit that can be used in traditional markets and alleyways will be increased.
  • During the Seollal holidays, transport costs will be reduced (free tolls on expressways, train discounts), the supply of pears, cabbages, and other staples during the holidays will be increased, and the government discount rate for these will be increased.

What Is Seollal (설날)?

Seollal (Lunar New Year’s Day) is one of the most celebrated national holidays in Korea. This year, Seollal falls on February 10 of the Gregorian calendar. Seollal is a time for Koreans to return to their hometowns to pay respect to their ancestors, as well as catch up with family members. During Seollal, Koreans usually perform ancestral rites, play folk games, eat traditional foods, and more. However, in the modern world, it is becoming increasingly common for people to spend the holidays not traditionally with their families, but on their own, or to travel alone as they would during a normal holiday.

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