Actually, in 119,353 blocks forging rewards will be activated which means new coins will be generated every block. Here is a quote from Lisks FAQ:
The forging rewards occur at a fixed rate per block, and change over the course of the networks lifetime as follows:
5 LSK per block - in the 1st year.
4 LSK per block - in the 2nd year.
3 LSK per block - in the 3rd year.
2 LSK per block - in the 4th year.
1 LSK per block in all other years.
In addition to the forging rewards, active delegates will also receive an equal share of the transaction fees.