Chuseok livelihood stabilisation measures to be announced next week — holiday goods and holiday funds supplied at 'the largest ever' scale, Earned Income and Child Care Tax Credits paid early
Source material is a Korean government announcement (in Korean).
The government said that the 'Chuseok livelihood stabilisation measures' — which include supplying holiday goods and holiday funds at 'the largest ever' scale and paying the Earned Income Tax Credit and Child Care Tax Credit early, before Chuseok — are due to be announced during next week.
Key facts
| Announcement timing | Due to be announced during next week (the draft measures were discussed at the meeting of 28 August 2026) |
|---|---|
| Holiday goods and funds | The government said it would supply holiday goods and holiday funds at 'the largest ever' scale |
| Discount events | Discount events for agricultural, livestock and fisheries products next month, to ease grocery costs |
| Tax credits | The Earned Income Tax Credit and Child Care Tax Credit paid early, before Chuseok |
| Consumption and tourism | Support for holiday expenses, lower transport costs and other steps to boost tourism and consumption; public safety management during the holiday period |
| Finance | A 'support plan for vulnerable borrowers' in readiness for a period of rising interest rates — for small and medium-sized enterprises, small business owners, and ordinary borrowers with medium and low credit ratings |
| Enquiries | Ministry of Economy and Finance (재정경제부), Policy Coordination Division (044-215-4510) |
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Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol chaired a meeting on the 28th that served as an Emergency Economic Headquarters meeting, a meeting of ministers on economic affairs, and a meeting of the ministerial task force on special management of livelihood prices, where the draft 'Chuseok livelihood stabilisation measures' and other items were discussed. The government said it would supply holiday goods and holiday funds at 'the largest ever' scale, and next month there will be discount events for agricultural, livestock and fisheries products to ease grocery costs. The Earned Income Tax Credit and Child Care Tax Credit (근로·자녀장려금) will be paid early, before Chuseok. Support for holiday expenses, lower transport costs and other steps to boost tourism and consumption, together with public safety management during the holiday period, will also be pursued. The 'Chuseok livelihood stabilisation measures' containing these items are due to be announced during next week. Alongside this, the government will prepare a 'support plan for vulnerable borrowers' in readiness for a period of rising interest rates, to ease the financial burden on small and medium-sized enterprises, small business owners and ordinary borrowers with medium and low credit ratings, and will also launch a 'pan-government joint response team' involving the Ministry of Economy and Finance (재정경제부), the Fair Trade Commission, the Korean National Police Agency and other relevant bodies.
Background — why this change
The meeting discussed items including 'a review of the response to the situation surrounding the war in the Middle East', 'a support plan for vulnerable borrowers in readiness for a period of rising interest rates', 'a plan to reform the national contract system to promote innovative technology', the draft 'Chuseok livelihood stabilisation measures', 'a plan for a pan-government joint response team against harm to people's livelihoods', and 'a plan to restore youth employment'. According to the government's announcement, household income for the second quarter (Q2), released on the 27th, rose 4.5% from a year earlier, increasing for 12 consecutive quarters, and consumption expenditure also rose 3.4%.
Summaries below are factual notes based on government announcements and primary sources — not evaluations or opinions.
FAQ
When will the Chuseok livelihood stabilisation measures be announced?
The government said it discussed the draft measures at the meeting of 28 August 2026 and that they are due to be announced during next week.
When will the Earned Income Tax Credit and Child Care Tax Credit be paid?
The government said the Earned Income Tax Credit and Child Care Tax Credit will be paid early, before Chuseok.
When will the discount events for agricultural, livestock and fisheries products take place?
The government said discount events for agricultural, livestock and fisheries products will be held next month to ease grocery costs.