On the afternoon of the 23rd, an employee at the iM Bank Daegu Jung-gu branch exchanges new bills for citizens who visit to prepare their New Year's money. /Courtesy of News1

The amount of new currency issued ahead of this year's Lunar New Year holiday has recorded the lowest level in the past five years.

According to data received from the Bank of Korea by Shin Young-dae, a lawmaker from the Democratic Party, on the 27th, the new currency issued during the 10 business days of this year's Lunar New Year totals 2.5684 trillion won, which is a decrease of 398.9 billion won compared to last year (2.9673 trillion won). The new currency issuance under the same criteria increased from 3.3869 trillion won in 2021 to 4.1857 trillion won the following year, but has decreased every year since.

In particular, the issuance of new currency in local areas has significantly decreased. The new currency issuance in Daegu and North Gyeongsang Province has dropped by 41.3% compared to the previous year, while South Gyeongsang Province fell by 26.8%, and Gwangju and South Jeolla Province decreased by 25.7%, respectively. Shin noted that the economic downturn and cold wave have impacted the tradition of giving cash gifts during the holiday.