South Korea Cuts Fuel Prices by 100 Won per Liter for Chuseok Holiday
South Korean Deputy Prime Minister Koo Yun-cheol announced that fuel prices at highway gas stations will be reduced by 100 won per liter during the Chuseok holiday from September 24 to 27. The discount applies to state-managed highway gas stations operated by the Korea Expressway Corporation.
The public sector will share the burden of high oil prices, and the fuel tax cut measures will be extended for an additional two months until the end of November. This is in response to international oil price conditions and the current economic situation.
Koo emphasized that the government will maintain an emergency response system and make every effort to stably manage energy supply, demand, and prices. The economy is showing solid fundamentals despite difficult external conditions such as the Middle East conflict.