The Bank of Korea supplied financial institutions with 3.6451 trillion Korean won, or approximately $2.7 billion, on a net basis during the 10 business days before Chuseok, down 792.3 billion won, or 17.9%, from the same period last year. The net issuance amount is calculated by subtracting cash returned by financial institutions from the currency issued by the central bank. Gross issuance fell 808.3 billion won, or 17.0%, to 3.9436 trillion won, while returned currency declined 16 billion won, or 5.1%, to 298.5 billion won. The Bank of Korea attributed the reduction in net supply to lower cash demand during this year’s four-day Chuseok holiday, which was three days shorter than last year’s seven-day holiday. The figures announced on the 23rd are preliminary, combining supply performance through the 22nd with an estimated amount for the 23rd.