Seoul: Finance Minister Koo Yun-cheol announced Wednesday that the government will soon reveal measures to stabilize people’s livelihoods in anticipation of this year’s extended Chuseok holiday period. Koo made this announcement during a ministerial meeting on economic affairs, preparing for the national holiday that falls in early October.
According to Lao News Agency, Koo emphasized signs of economic recovery following the launch of the new Lee Jae Myung administration, stating that the race toward full economic recovery is currently under way. He assured that the government will push forward at full speed without taking a break.
The minister disclosed that the government plans to roll out a second round of cash handouts starting on September 22. In July, the government distributed the first round of cash handouts, called “consumption coupons,” amounting to 150,000 won (US$108) to all citizens, with additional support for low-income and single-parent households.
Koo also stressed the significance of government support in response to rising global tariffs and highlighted the administration’s focus on new growth engines, especially in areas like artificial intelligence (AI).