Koo Announces Fuel Price Cuts for Chuseok Holiday

Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol announced that fuel prices at highway gas stations nationwide will be reduced by 100 won per liter during the Chuseok holiday from September 24 to 27. This reduction is part of a broader effort to ease the burden of high oil prices on the public.

The discount will be implemented at 226 state-managed highway gas stations operated by the Korea Expressway Corporation, and it's expected that the fuel tax cut measures scheduled to end at the end of this month will be extended for an additional two months until the end of November. The government also plans to offer discounts on electric vehicle charging fees during daytime hours when renewable energy supplies are abundant.

Koo emphasized that despite difficult external conditions, such as the Middle East conflict, the economy is showing solid fundamentals, with exports increasing significantly and domestic consumption and other sectors improving.