S Korea-electricity rates

▲ This file photo taken June 13, 2023, shows electric meters at a residential building in Seoul. (Yonhap)

S Korea-electricity rates

S. Korea to freeze Q3 electricity rates amid mounting public burdens

SEOUL, June 21 (Yonhap) -- South Korea's state power firm said Wednesday it will freeze electricity rates for the third quarter in a move to ease the burdens on people following two consecutive quarters of hikes.

The planned freeze came as the government jacked up electricity rates by 5.3 percent on-year for the second quarter, or by 8 won per kWh, following a 13.1 won increase per kWh in the first quarter due to high global energy costs and the mounting losses of the Korea Electric Power Corp. (KEPCO).

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