SEOUL, Feb. 10 (Yonhap) — South Korea’s central bank said Wednesday it has provided a net 4.75 trillion won (US$4.25 billion) in liquidity to the financial sector to help the flow of money ahead of the Lunar New Year holiday.
The Bank of Korea (BOK) said it decreased its money injection by 15.7 percent this year from a year earlier because of social distancing rules amid the coronavirus pandemic.
Health authorities have called on people to refrain from traveling for family gatherings to contain the spread of the virus. A ban on gatherings of more than five people has been put in place.
The money was transferred to financial institutions during the 10 business days leading up to the holiday, which starts Thursday.