diff --git a/CHANGELOG.md b/CHANGELOG.md
index b0ca64779..002b399a8 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,4 +1,13 @@
-# v1.1.0 Release 2020-08-17
+# v1.2.0 Release 2020-09-30
+This is 27th release of Kaniko!
+
+In this release, Copy layers are not cached there by making builds faster!! 
+* Stop caching COPY layers [#1408](https://github.com/GoogleContainerTools/kaniko/pull/1408)
+
+Huge thank you for this release towards our contributors: 
+- Ian Kerins
+
+# v1.1.0 Release 2020-09-30
 This is the 26th release of Kaniko!
 
 # New features
diff --git a/Makefile b/Makefile
index 03c0f63c6..9a338c972 100644
--- a/Makefile
+++ b/Makefile
@@ -14,7 +14,7 @@
 
 # Bump these on release
 VERSION_MAJOR ?= 1
-VERSION_MINOR ?= 1
+VERSION_MINOR ?= 2
 VERSION_BUILD ?= 0
 
 VERSION ?= v$(VERSION_MAJOR).$(VERSION_MINOR).$(VERSION_BUILD)