diff --git a/releasing/VERSIONS b/releasing/VERSIONS
index 2d697a6d2..641a5c11f 100644
--- a/releasing/VERSIONS
+++ b/releasing/VERSIONS
@@ -5,7 +5,7 @@
 
 # kyaml version
 export kyaml_major=0
-export kyaml_minor=2
+export kyaml_minor=3
 export kyaml_patch=0
 
 # kstatus version
@@ -20,7 +20,7 @@ export api_patch=0
 
 # cmd/config version
 export cmd_config_major=0
-export cmd_config_minor=2
+export cmd_config_minor=3
 export cmd_config_patch=0
 
 # kustomize version