The government will inject an additional six trillion won, or around five-point-three billion U.S. dollars, to ensure public livelihood ahead of the lunar New Year holidays.

The Democratic Party’s senior spokesman, Hong Ihk-pyo, unveiled the plan after the government, presidential office and ruling party held a three-way meeting at the National Assembly on Tuesday.

The move is aimed at stabilizing prices and helping the socially vulnerable ahead of the holidays by increasing related funds to a total of 35-point-two trillion won. 

Hong said that in a bid to keep prices stable, the government will expand the supply of holiday food items, soon to be in high demand for ancestral rituals and family gatherings. 

Also during the New Year holidays, running from February fourth to sixth, expressway toll gate fees will be exempted and efforts will be made to revitalize local tourism.