Koo Yoonchul: "The Race for Economic Recovery Begins Now... Second Round of Consumption Coupons to Be Distributed from the 22nd"

Economic Ministers' Meeting and Industrial Competitiveness Enhancement Conference Held on September 3

On September 3, Deputy Prime Minister and Minister of Economy and Finance Koo Yoonchul stated, "The real race for economic recovery begins now," adding, "We will distribute the second round of livelihood recovery consumption coupons starting September 22, and we will promptly announce measures to stabilize livelihoods during Chuseok."

Deputy Prime Minister and Minister of Economy and Finance Koo Yoonchul, along with other Cabinet members, are attending the Economic Ministers' Meeting and the Industrial Competitiveness Enhancement Ministers' Meeting held at the Government Seoul Office in Jongno-gu, Seoul on September 3, 2025. Photo by Jo Yongjun

Deputy Prime Minister Koo presided over the Economic Ministers' Meeting and the Industrial Competitiveness Enhancement Ministers' Meeting at the Government Seoul Office that day, declaring, "The government will continue to sprint forward without rest." He emphasized, "While thoroughly responding to global trade risks, we will mobilize all policy capabilities to pursue leading projects in artificial intelligence (AI) and the ultra-innovative economy."

Regarding the recent economic situation, Deputy Prime Minister Koo said, "The long-standing trend of economic stagnation has been reversed since the launch of the new administration." He continued, "Thanks to policy effects such as the livelihood recovery consumption coupons, consumer sentiment in August surged to 111.4, the highest level in seven years and seven months, and retail sales in July saw the largest increase in 29 months, rising by 2.5%." He added, "With the recovery in consumption, the gross domestic product (GDP), which contracted in the first quarter, rebounded in the second quarter, and major industrial activity indicators, including total industrial production, have improved for two consecutive months."

At the meeting, topics discussed included follow-up support measures after the U.S. tariff negotiations, support plans for small and medium-sized enterprises affected by U.S. reciprocal tariffs, the creation and operation of the National Growth Fund, and plans to improve public-facing services at public institutions. Deputy Prime Minister Koo announced, "To respond to trade issues and support export companies, next year's budget has been set at 4.3 trillion won, a significant increase from this year's 1.6 trillion won," and pledged, "We will do our utmost to minimize tariff-related losses for our companies."

He further explained, "By the end of the year, we will provide 13.6 trillion won in emergency management funds to affected companies, and support approximately 420 billion won in export vouchers by 2026." He added, "We will foster export-driven small but strong companies centered around the 'four major K-consumer goods'-beauty, fashion, lifestyle, and food-and provide comprehensive support for finance, certification, and marketing to pioneer new markets." He also stated, "We will swiftly finalize plans to create a National Growth Fund of over 100 trillion won and make bold investments in advanced strategic industries."