'Seol Minsheng Measures' 3.65 Million Vulnerable Households' Electricity Bill Increase Postponed... 39 Trillion Won Supplied to Small Business Owners and SMEs

Senior Government-Party Meeting on 'Seol Livelihood Stabilization Measures'
Monthly Purchase Limit for Onnuri Gift Certificates Increased to 500,000 Won
Price Management of Seol Seasonal Products

[Image source=Yonhap News]

The government and the ruling party have decided to postpone the electricity bill increase for 3.65 million vulnerable households once again.

Additionally, to support liquidity for small business owners and small and medium-sized enterprises during the holiday season, they will newly supply funds amounting to approximately 39 trillion won, the highest ever.

On the 14th, the government, the Presidential Office, and the People Power Party held a high-level party-government meeting at the National Assembly and finalized the "Seol Livelihood Measures" containing these plans.

At the meeting, the People Power Party stated, "The time has come for the electricity bill increase for 3.65 million vulnerable households, which was postponed last year," and emphasized that their electricity bill burden should not increase. The government agreed to this, according to Park Jeong-ha, the chief spokesperson of the People Power Party.

Also, starting next month, the reduction of loan interest for small business owners and self-employed individuals will be expanded to the secondary financial sector. The reduction of loan interest in the secondary financial sector will be implemented from the end of March. Approximately 400,000 people are eligible, with a maximum interest reduction of 1.5 million won.

The monthly purchase limit for Onnuri gift certificates supporting traditional markets and neighborhood businesses will be increased by 500,000 won. For paper-type gift certificates, the limit will increase from the existing 1 million won to 1.5 million won. The total issuance scale will also increase from 4 trillion won to 5 trillion won.

During the Seol holiday period from February 9 to 12 next month, highway tolls will be free. For those returning home by KTX or SRT, discounts of up to 30% will be applied.

Under the goal of managing the average price of Seol seasonal products at or below last year's level, the government will focus on supplying 16 major seasonal products during the Seol holiday period, and increase the government discount support rate from 20% to 30%. The traditional markets participating in the government discount support will also expand to 700 locations for agricultural and livestock products and 1,000 locations for seafood products.

This content was produced with the assistance of AI translation services.