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Gov't designates Jan. 27 as temporary holiday

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Choi Sang-mok, acting president, deputy prime minister and minister of economy and finance, holds a cabinet meeting at the Government Complex Seoul, Jan. 14. Yonhap

Choi Sang-mok, acting president, deputy prime minister and minister of economy and finance, holds a cabinet meeting at the Government Complex Seoul, Jan. 14. Yonhap

The government on Tuesday designated Jan. 27 as a temporary holiday in an effort to stimulate private consumption and promote domestic tourism ahead of the Lunar New Year.

The motion was approved in a Cabinet meeting, resulting in an extended six-day holiday period from Jan. 25 to Jan. 30, as Lunar New Year's Day falls on Jan. 29 this year.

The country's financial market, including the stock exchange, will be closed for the entire holiday season, now including Jan. 27.

Seol, or Lunar New Year's Day, is one of the country's most celebrated traditional holidays. Many South Koreans travel to their hometowns during this time to perform ancestral rituals and spend time with their families. (Yonhap)