Business community is concerned about raising electricity bills..."Burden of corporate activities"

Business groups have all expressed concern over the increase in industrial electricity bills.

The Korea Chamber of Commerce and Industry issued a commentary, saying it is concerned about the impact on corporate competitiveness in a challenging business environment, such as the growing uncertainty in the global economy.

It also added that raising only industrial use, which affects manufacturing costs, is a burden on business activities, adding that society as a whole should consider sharing and joining energy efficiency together.

The Federation of Korean Industries also said that the domestic industry is at its limit due to high prices, exchange rates and high interest rates, and that it is concerned that its management activities will shrink.

He then stressed that a cost-based electricity rate determination system should be established and that a positive method that benefits from saving electricity should be considered.