Government to Supply Record Volume of Chuseok Holiday Goods... Half-Price Discounts Also Supported

Announcement of Chuseok Livelihood Stabilization Measures

Koo Yoonchul, Deputy Prime Minister for Economy and Minister of Strategy and Finance.

As the Chuseok holiday approaches, the government will release a record volume of 21 major holiday goods and launch a half-price discount support program.

The Ministry of Strategy and Finance announced that on September 9, Koo Yoonchul, Deputy Prime Minister for Economy and Minister of Strategy and Finance, presented these Chuseok livelihood stabilization measures at a Cabinet meeting presided over by President Lee Jaemyung.

In preparation for Chuseok, the government will supply 172,000 tons of 21 key holiday goods-including napa cabbage, radish, beef, pork, and mackerel-to the market, marking the largest volume ever. Traditional markets and both online and offline retailers will hold discount events offering up to 50% off. Additionally, six imported items, such as potatoes for chip manufacturing, sunflower seed oil, and apple concentrate, will be subject to quota tariffs.

Government ministries will jointly monitor the prices and supply trends of these goods and plan to crack down on illegal distribution and price gouging.

For small business owners and small- and medium-sized enterprises, the government will provide a record 43.2 trillion won in holiday funds, and 114.5 billion won in inclusive finance, such as the Sunshine Loan Youth program. In particular, merchants in traditional markets will be able to borrow funds for purchasing holiday goods at low interest rates, up to 10 million won per store.

To stimulate domestic demand, the government will also inject 4.7 trillion won starting September 22 to distribute the second round of livelihood recovery consumption coupons. The 'Mutual Benefit Payback' program will be implemented as well, returning 20% of the increased amount spent by credit card users in September to November this year compared to their monthly average last year.

Additionally, 150,000 accommodation coupons usable in special disaster areas will be issued, providing 50,000 won for lodging costs of 70,000 won or more, and 30,000 won for lodging costs under 70,000 won.

During the four-day Chuseok holiday (October 4-7), highway tolls will also be waived.