Home electricity bill 'freeze'...Industrial average 9.7% ↑

Electricity prices used at industrial sites such as factories will increase by 9.7% on average from tomorrow (24th).

Housing and general electricity, which were expected to increase, were frozen once more in consideration of the economic burden on the common people.

Choi Nam-ho, the second vice minister of the Ministry of Trade, Industry and Energy, and Kim Dong-cheol, the president of Korea Electric Power Corporation, announced the electricity bill adjustment plan at a briefing at the Sejong Government Complex today (23rd).

Kim said he took into account the ongoing difficulties of people's livelihoods and self-employed businesses and consumer sentiment has not yet recovered from the freeze on electricity bills for residential and general use.

Electricity rates for homes have remained the same for nearly a year and a half since May last year.

Meanwhile, industrial electricity rates were differentially applied, rising 10.2% for customers using large industrial electricity such as Samsung Electronics and SK Hynix and 5.2% for small and medium-sized companies using small electricity.

Choi Nam-ho, the second vice minister, explained that as exports continued to be good, it would be good for large export companies to share the pain.

He then said he could not reveal the expected profits from the increase in electricity rates, but he expects KEPCO to maintain a stable surplus.