SEOUL : South Korea said on Monday it will raise electricity prices by 5.3 per cent to partly reflect increased generation costs, a move delayed more than a month because of the likely effect on already high inflation and the cost of living. It is the second increase in power prices this year after a shar
SEOUL : South Korea said on Monday it will raise electricity prices by 5.3 per cent to partly reflect increased generation costs, a move delayed more than a month because of the likely effect on already high inflation and the cost of living.
The government of President Yoon Suk Yeol, who marked his first anniversary in office last week amid low approval ratings, faces conflicting pressure from utilities hit by mounting losses and households hurt by the rising cost of living. Korea Electric Power Corp , the state-run electricity powerhouse, suffered an operating loss of 6.2 trillion won for the first quarter after a huge 32.6 trillion won loss for the whole of last year.
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