South Korea Cuts Expressway Fuel Prices by 100 Won per Liter During Chuseok Holiday

South Korean Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol announced plans to cut fuel prices at expressway gas stations nationwide by 100 won per liter during the Chuseok holiday period from September 24 to 27. This move aims to ease the burden on consumers, with the public sector sharing the costs of high oil prices. The discounts will apply to 226 state-managed expressway gas stations operated by the Korea Expressway Corporation.

In addition to the fuel price cuts, Koo Yun-cheol stated that electric vehicle charging fees will be discounted during daytime hours when renewable energy supplies are abundant. This is a measure to return the benefits of expanded renewable energy to the public. The 10th maximum petroleum price, which takes effect on September 19, will also be reviewed and announced today at 6 p.m., considering international oil price trends and the public burden.

Koo emphasized that despite difficult external conditions such as the Middle East war, South Korea's economy is showing solid fundamentals. Exports are increasing significantly, domestic consumption and other domestic demands are improving, and global credit rating agencies Moody's and Fitch are evaluating the economy's robust growth positively.