Party and Government "Expand Seolseongsupum Supply by 1.5 Times... 30-40% Discount on KTX·SRT Return Trip Fares"

Price Stabilization and Consumption Promotion of Seasonal Necessities Discussed by Government and Ruling Party
Kwon Seong-dong: "Rising Prices Amid Economic Downturn Cause Hardship for Ordinary People"
Issuance of Onnuri Gift Certificates Worth 5.5 Trillion Won
Domestic Travel Expenses of 400,000 Won for 150,000 SME Workers

On the 9th, the government and the People Power Party decided to stabilize prices of essential goods during the Lunar New Year holiday by increasing the supply volume of 16 major seasonal products, including cabbage, radish, apples, and pears, by 1.5 times compared to normal times until the 27th. At the same time, they will issue Onnuri gift certificates worth approximately 5.5 trillion won. Additionally, to stimulate domestic consumption and promote domestic travel, 1 million non-metropolitan accommodation coupons worth up to 30,000 won will be newly distributed during the Lunar New Year holiday, and from the 27th to the 31st, 30-40% discounts will be offered for KTX and SRT return trips.

On the morning of the same day, the ruling party and the government held a meeting at the National Assembly to stabilize prices of seasonal goods and boost consumption, where Kim Sang-hoon, the policy chief of the People Power Party, announced these decisions. Kwon Seong-dong, the floor leader of the People Power Party, stated in his opening remarks, "Amid the economic downturn and rising prices, the most hardship is being felt by ordinary citizens," and requested the government to expand the supply of reserved stocks, establish mid- to long-term supply and demand measures, and improve distribution structures concurrently. According to the Korea Agro-Fisheries & Food Trade Corporation (aT), prices of radish, cabbage, and pears have risen by 84%, 64%, and 25%, respectively, compared to a year ago.

The government plans not only to expand the supply of seasonal goods and issue Onnuri gift certificates but also to promote discounted sales of major seasonal products through a combination of government discount support and retailers’ own discount support. Furthermore, the digital Onnuri discount rate will be raised from 10% to 15%, and 15% of digital Onnuri gift certificate payments will be refunded to reduce the burden of grocery prices.

Song Mi-ryeong, Minister of Agriculture, Food and Rural Affairs, is speaking at the Party-Government Council held at the National Assembly on the 9th to stabilize prices of Lunar New Year seasonal products and promote consumption. Photo by Kim Hyun-min

Policies to alleviate the livelihood burdens of ordinary citizens and small business owners will also be pursued, including 11 trillion won in policy finance for low-income households and the new supply of 2 trillion won in guarantees converted to the Small Business Technology Guarantee Fund type. Delivery and courier fees for small business owners with low sales will be supported up to 300,000 won annually, and the business closure support fund will be expedited. In addition, ahead of the Lunar New Year, a total of 5 billion won will be provided to traditional market merchants for purchasing seasonal goods, and early payments of corporate tax, value-added tax, and customs refunds will be made to export small and medium-sized enterprises and micro-businesses. For 13,000 low-income workers with severe disabilities, 70,000 won in transportation expenses will be paid early.

To ensure early payment of subcontracting fees, 10 unfair subcontracting reporting centers will be established and operated across five regions nationwide. The processing period for wage arrears compensation will also be shortened from the existing 14 days to 7 days to promptly resolve field difficulties. Oh Young-joo, Minister of SMEs and Startups, said in her opening remarks, "To resolve financial difficulties of small and medium-sized enterprises and small business owners, we will promptly supply a total of 26.5 trillion won in policy finance this year, including 1.7 trillion won during the Lunar New Year holiday." Kim, the policy chief, also said, "We will strive to pass vital legislation such as the Labor Vulnerable Support Act and the Restriction of Special Taxation Act in the National Assembly."

To revitalize domestic tourism, in addition to newly distributing non-metropolitan accommodation coupons and offering KTX and SRT return trip discounts, various cultural heritage sites such as palaces and royal tombs will be opened free of charge and cultural events will be held. Moreover, a total of 400,000 won in domestic travel expenses will be supported for 150,000 workers of small and medium-sized enterprises.

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