Among the plans are to include examinations for depression in mandatory annual health checkups for all South Koreans from their 40s to their 70s.
Prominent suicides have recently hit the headlines, including that of K-pop star Jonghyun, who killed himself last month, sparking introspection within South Korea's high pressure entertainment industry.
Jonghyun took his own life despite achieving the highest levels of fame and having an adoring army of fans.
Despite high educational standards, high-paying jobs in South Korea's highly competitive workplace have also become harder to secure since an economic crisis in the late 1990s.
The criminalisation of suicide pacts was among a series of measures approved by the South Korean cabinet. TV dramas and web cartoons glorifying suicides will also be discouraged. Suicide prevention education will also be required for all soldiers.
Seoul aims to lower the suicide rate to 17 per 100,000 by 2022. The Government said that more than 90 per cent of those who took their own lives sent warning signals in advance and that suicides could largely be prevented through people having a senses of awareness.
Where to get help:
• Lifeline: 0800 543 354 (available 24/7)
• Suicide Crisis Helpline: 0508 828 865 (0508 TAUTOKO) (available 24/7)
• Youthline: 0800 376 633
• Kidsline: 0800 543 754 (available 24/7)
• Whatsup: 0800 942 8787 (1pm to 11pm)
• Depression helpline: 0800 111 757 (available 24/7)
• Rainbow Youth: (09) 376 4155
• Samaritans 0800 726 666
• If it is an emergency and you feel like you or someone else is at risk, call 111.