The government plans to provide some 40 trillion won ($30.1 billion) in financial support to small and medium-sized enterprises, and micro business owners as part of measures to support them in the run-up to the Chuseok holiday, officials said Sunday.

The decision was made during a high-level meeting of government and ruling party officials, held to finalize measures on stabilizing prices, as well as supporting small business owners and others, according to People Power Party spokesperson Han Zeea.

South Korea will also supply an all-time high of 170,000 tons of key holiday-related foodstuff, including cabbage, apples and pears, to help stabilize consumer inflation.

Demand for vegetables, eggs and other foodstuff usually rises in South Korea ahead of the Chuseok holiday as people prepare holiday meals for family gatherings.

The government and the PPP also agreed to waive highway tolls and offer KTX and SRT train tickets at discounted prices for people traveling from the provinces to the capital area during the Chuseok fall harvest holiday, which runs from Sept. 14 through Sept. 18 this year. (Yonhap)