44 Trillion Won Released for Chuseok Livelihood Support... Including Discounts on Delivery Apps and Onnuri Gift Certificates

[Financial News] The government is launching a livelihood support package worth 44 trillion won for the vulnerable and small business owners ahead of Chuseok. From Sunshine Loan, medical expenses, energy vouchers to wage arrears support, a comprehensive safety net will be activated, and measures such as holiday funds, loan maturity extensions, and easing delivery app commission burdens will be fully mobilized for traditional markets and self-employed individuals.
 On the 15th, the Ministry of Strategy and Finance and related ministries announced measures focused on stabilizing the livelihoods of vulnerable groups and alleviating the management difficulties of small and medium-sized enterprises through the 'Chuseok Livelihood Stability Measures', including △114.5 billion won in public finance supply △expansion of funds for purchasing essential goods and Onnuri gift certificates △additional support of 60 billion won for catastrophic medical expenses △reduction of interest rates on loans for wage arrears by up to 1.0%p.

 The government will supply a total of 114.5 billion won in public finance around Chuseok, including 40 billion won for Sunshine Loan Youth, 20 billion won for illegal private finance prevention loans, and 54.5 billion won for guaranteed loans for those with the lowest credit.
 The loan interest rate for clearing wage arrears will also be temporarily reduced. The interest rate for business owners will be lowered from the current 3.7% to 2.7% for unsecured loans and from 2.2% to 1.2% for secured loans, while the interest rate for worker loans will be reduced from 1.5% to 1.0%. This measure will be applied until October 14.
 Measures to alleviate the burden of living expenses will also be implemented. The price of government grain will be reduced by 20% from October to December, supplied at 8,000 won per 10 kg.
 Support for catastrophic medical expenses will be increased by 60 billion won, expanding to a total of 200.4 billion won. The energy voucher will be expanded early to include multi-child households from December 2025, which was originally planned for 2026.
 The budget for supporting disabled workers will also increase. The number of work assistants will expand from 11,000 to 11,400, and support for commuting expenses for severely disabled workers will increase from 13,000 to 15,000.

 Holiday funds for small business owners and SMEs facing financial difficulties are set at 43.2 trillion won, the largest ever. Along with this, a 61 trillion won extension of loan and guarantee maturities will also be implemented.
 Low-interest loans of 5 billion won will be provided for traditional market merchants. Up to 10 million won per store will be supported, and the reimbursement scale for Onnuri gift certificates will increase from 16.7 billion won to 37 billion won, more than doubling. The number of participating markets will also expand from 234 to 400.
 Public delivery app discounts will be adjusted to enhance consumer experience. Previously, a 10,000 won discount was applied on the third transaction after two payments of over 20,000 won, but starting October 1, a 5,000 won discount will be applied immediately for each payment over 20,000 won.
 To alleviate the labor cost burden in the food service industry, the government is considering easing the employment requirements for foreign workers in the restaurant industry (E-9 visa).
 The government will defer the payment of employment and industrial accident insurance premiums for October to December, and implement early VAT and customs duty refunds, as well as defer corporate tax payments for exporting SMEs and self-employed individuals in financial crisis.


imne@fnnews.com Hong Yeji Reporter