The government has decided to provide 36 trillion won in support funds to small- and medium-sized businesses around the Lunar New Year holiday. 

The government reached the decision on Tuesday during a Cabinet meeting chaired by President Moon Jae-in as part of measures to stabilize people’s livelihoods during the holidays.

The 36 trillion won figure is three trillion won more than support funds allotted last year and will be provided in the form of loans and securities. 

Further, the government will promptly implement projects to create some 940-thousand jobs for the socially vulnerable and provide some 120 billion won in earned income tax credit and child tax credit before the holiday.

Meanwhile, the government plans to quadruple the supply of 16 key products whose demand surges on and around the beginning of the Lunar New Year, including apples, pears and beef. 

It will also set up more than 26-hundred farmers’ markets during the holiday.