BOK Supplies 3.65 Trillion Won in Fresh Banknotes Ahead of Chuseok

The Bank of Korea (BOK) has announced the supply of 3.65 trillion won (approximately $2.69 billion) in fresh banknotes in preparation for the upcoming Chuseok holiday. This measure aims to support increased consumer spending during the festive period.

The central bank has distributed these new banknotes to various banks and financial institutions over the past ten working days. This amount is lower than the 4.44 trillion won supplied last year, reflecting a decrease in demand due to the shorter holiday duration this year, which lasts only four days compared to seven days in 2025.

Chuseok, a significant harvest festival in South Korea, begins on Thursday and is expected to see a surge in consumer activity as families gather and celebrate. The BOK's proactive approach to ensuring an adequate supply of cash is designed to facilitate smooth transactions during this busy time.

Despite the decline in the amount of new banknotes compared to last year, the BOK remains optimistic about the economic impact of the holiday, as consumer spending is a vital component of the South Korean economy. The central bank continues to monitor the situation closely to adapt to any changes in demand.