Koo Yooncheol: "Boosting Consumption with Korea Grand Festival... Accelerating AI Transformation"

Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol stated, "We will work to spread the hard-won momentum of economic recovery," adding, "By hosting the Korea Grand Festival, we aim to create a nationwide consumption boom."

According to the Ministry of Economy and Finance, Deputy Prime Minister Koo presided over the Growth Strategy Task Force and Economic Ministers' Meeting held at the Seoul Government Complex on the 20th, where he announced, "We will hold the Korea Grand Festival from October 29 to November 9." The government is currently reimbursing 20% of the additional card spending in September, October, and November-beyond the average monthly card spending in 2024-with digital Onnuri gift certificates. Approximately 4.15 million people participated from September to October, resulting in a total reimbursement of 241.4 billion won. The reimbursement covers 20% of the additional card spending in September to November 2025, compared to the average monthly card spending in 2024. Deputy Prime Minister Koo expressed his hope that even more citizens will participate.

Deputy Prime Minister Koo also announced plans to swiftly implement the 15 leading projects of the ultra-innovative economy. He stated, "The government will serve as a strong springboard for corporate growth," and added, "We will promptly advance the AI transformation and ultra-innovative economy projects, and will quickly introduce measures to restore the competitiveness of key industries such as steel and petrochemicals."

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