Yoon "October 2 Designated as Temporary Holiday... All Ministries to Conduct On-Site Inspections" (Update)

President Yoon Chairs Emergency Economic and Livelihood Meeting One Month Before Chuseok
"Temporary Holiday Designated for October 2... Domestic Demand Must Be Stimulated"
Government to Expand Supply of Agricultural, Livestock, and Fisheries Products and Support Vulnerable Groups

President Yoon Suk-yeol announced on the 31st that October 2, the holiday between the Chuseok holiday and National Foundation Day, will be designated as a temporary public holiday, and that the government will implement comprehensive measures to revitalize domestic demand, including expanding the supply of essential goods. This plan comes as the government aims to proactively manage prices and the domestic economy amid growing price uncertainties caused by fluctuations in international oil prices and weather conditions, just one month before Chuseok.

On the morning of the same day, President Yoon presided over the 19th Emergency Economic and Livelihood Meeting at the Yongsan Presidential Office, stating, "Although the recent inflation rate has slowed and the trade balance has improved, the expansion of uncertainties in export markets and international financial markets means we cannot let our guard down," and announced these policies.

This meeting was held to align with President Yoon’s national policy direction of "focusing on the economy in the second half of the year," dedicating full efforts to stabilizing prices of Chuseok shopping baskets, strengthening tailored support for vulnerable groups, and improving living conditions for ordinary citizens through revitalizing domestic demand. Considering that this livelihood check was conducted as an 'Emergency Economic and Livelihood Meeting,' it is interpreted as a strong intention to directly review and support the livelihood issues of various ministries.

President Yoon Suk-yeol is entering the Emergency Economic and Livelihood Meeting held at the Yongsan Presidential Office Building in Seoul on the 31st.
[Photo by Yonhap News]

In particular, President Yoon emphasized, "The top priority of policy is the livelihood of the people," and urged, "All ministries should directly visit and inspect every corner of the livelihood sites so that citizens can feel the stabilization of their livelihoods, and make greater efforts to ensure that necessary support is provided promptly." Shortly after the trilateral summit between South Korea, the United States, and Japan, President Yoon also conveyed a message to his presidential office staff, saying, "From now on, the center of national administration is the economy," urging them to focus on managing economic policies.

The plan to designate October 2, the holiday between the Chuseok holiday and National Foundation Day, as a temporary public holiday has been virtually finalized. President Yoon stated, "We must activate domestic tourism to stimulate domestic demand," and added, "We will designate October 2 as a temporary public holiday." He further explained, "Along with distributing 600,000 accommodation discount coupons, highway tolls will be waived during the holiday period," and "We will promote additional flights and simplify entry procedures to ensure that the increase in foreign tourists leads to the revitalization of the domestic economy." The agenda for designating the temporary public holiday is scheduled to be reviewed and approved at the Cabinet meeting presided over by the Prime Minister next week.

Regarding unscientific criticisms of Japan’s contaminated water discharge, President Yoon reiterated his determination to "actively respond to baseless rumors and agitation." He said, "We will allocate an additional 80 billion won from the contingency fund this year to promote the consumption of our seafood," and added, "Support for the seafood industry, which has been struggling due to recent fake news and false agitation, will also be implemented swiftly and boldly."

At the government level, measures include ▲expanding the supply of essential goods and major agricultural, livestock, and fishery products ▲investing 67 billion won in discount support ▲expanding relocation support for low-income and vulnerable groups ▲providing interest support on overdue loans for business owners and workers ▲and supplying 43 trillion won in loans and guarantees to small business owners and small and medium enterprises. A government official stated, "Based on stabilizing prices of essential goods, we plan to reduce the burden on livelihoods and stimulate domestic demand through various support measures to ensure that citizens do not face difficulties."

Meanwhile, government attendees at the meeting included Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho, Ministers of Culture, Sports and Tourism; Agriculture, Food and Rural Affairs; Employment and Labor; Land, Infrastructure and Transport; Oceans and Fisheries; and Small and Medium Enterprises and Startups, as well as the Chairman of the Financial Services Commission. From the National Assembly, Park Dae-chul, Policy Committee Chair of the People Power Party, and from the Presidential Office, Lee Kwan-seop, Chief of National Planning; Kim Eun-hye, Chief of Public Relations; Choi Sang-mok, Chief of Economic Affairs; and Ahn Sang-hoon, Chief of Social Affairs, attended.

This content was produced with the assistance of AI translation services.