The government said on the 11th that it will consider extending the fuel tax cut and the diesel/CNG fuel price-linked subsidy.
The Ministry of Economy and Finance stated accordingly in a work report to President Lee Jae-myung that day. It is seen as an effect of petroleum prices rising this year for the first time in three years since 2022. According to the Korean Statistical Information Service (KOSIS), consumer prices for petroleum products rose 2.1% year over year in January–November.
The Ministry of Economy and Finance (MOEF) partially reduced the fuel tax cut range on Nov. 1, but is reviewing a plan to maintain the current cut to stabilize the cost of living. The current fuel tax cut rates are 7% for gasoline and 10% for diesel/LPG butane.
Along with this, the government will designate each ministry's Vice Minister as a "price stability officer," extend quota tariff measures on 22 food ingredients, and simultaneously push fundamental price stabilization steps such as strengthening monitoring of price-fixing in key foods including pork, eggs, sugar, and flour.
Support for low-income and vulnerable groups will also be expanded. It will widen eligibility for the "1,000-won breakfast" program and expand energy vouchers for vulnerable households, while strengthening cost-of-living relief policies such as a flat-rate national transit pass and the data-safety option for telecom bills.
Additional youth employment measures were also announced. The Ministry of Economy and Finance (MOEF) plans to prepare tailored support by youth type identified as "took a break" in the first quarter next year, and to expand work experience through online and offline AI education and job training, as well as support for obtaining AI certifications. It will also identify those at long-term unemployment risk early to provide psychological counseling and opportunities to participate in social activities, helping them enter the labor market.