"We have been advised of situations regarding coronavirus and have observed many events within New Zealand being cancelled," Auckland Korean Society president Kyungsook Wilson Byun said.
She indicated the event could likely take place towards the end of the year.
The Auckland Lantern Festival, the country's largest event was due to run this weekend, but Auckland Tourism, Events and Economic Development announced its cancellation on Feb 4.
It was the first time in the 21-year history of the festival the event had been cancelled.
Several other Lunar New Year events, including the Whau Chinese New Year Festival and Northcote Chinese and Korean New Year festivals have also been cancelled.