Gov't to spend extra $67.2 mil. on food discounts ahead of Chuseok
Korea will allocate an additional 90 billion won ($67.2 million) to stabilize prices of major food items ahead of this month's extended Chuseok holiday, on top of the 103 billion won previously announced, the finance ministry said Wednesday. The Ministry of Finance and Economy unveiled the plan as the country prepares to celebrate Chuseok, the Korean equivalent of Thanksgiving, from Sept. 24-27.…
The Korean government has announced an additional 67.2 million U.S. dollars to help stabilize food prices during the upcoming extended Chuseok holiday, bringing the total allocation to 103 billion won. This announcement was made by the Ministry of Finance and Economy as the nation prepares to observe Chuseok, the Korean Thanksgiving, from September 24th to 27th.
Chuseok is a time for family reunions, ancestral rites, and the consumption of special foods. The government's discount campaign, which was initially set to run until September 23rd, will now extend until the end of the month. To support this initiative, the government will release 2,000 tons of popular fishery products this month, adding to the earlier 20,000 tons provided.
Additionally, the government will partner with 20 processed food manufacturers to offer discounts ranging from 64 percent off on 4,765 products. The ministry estimates that preparing a Chuseok ancestral rite table for a family of four typically costs around 331,089 won, a decrease of 2.3 percent compared to the previous year.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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