President Yoon Suk Yeol signed off on the appointments of Kim Dong-cheol as the new CEO of Korea Electric Power Corp., also known as Kepco, and Bang Moon-kyu as trade minister this week, the very two figures in charge of the highly explosive issue of electricity rate hikes. The idea of raising electricity rates is a sensitive topic for the government as many households find the sharp increase in August's electri.
President Yoon Suk Yeol signed off on the appointments of Kim Dong-cheol as the new CEO of Korea Electric Power Corp., also known as Kepco, and Bang Moon-kyu as trade minister this week, the very two figures in charge of the highly explosive issue of electricity rate hikes. The idea of raising electricity rates is a sensitive topic for the government as many households find the sharp increase in August's electri.
A former lawmaker, who helped President Yoon Suk Yeol s winning election campaign, was nominated to lead the state-run electric utility firm despite his lack of experience in the energy industry. Last Friday, the Korea Electric Power Corp. (KEPCO) agreed to host an extraordinary general meeting of shareholders on Sept. 18, to appoint Kim Dong-cheol, a former four-term lawmaker, as its new CEO.
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.
South Korea's state power firm said Wednesday it would 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.