Indebted Utility Kepco Faces Smaller Price Hike As Korea Shields Consumers
- Korea considering single-digit price increase: people familiar
- Discussion comes after consumer ire, weak political support
Kepco engineers work at a power substation in Naju, South Jeolla Province, South Korea.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
South Korea may limit planned electricity price increases in an effort to shield consumers, people familiar with the matter said, a headache for the country’s largest utility after it posted a record loss last year.
Rising living costs have become a hot-button issue in Korea, as support for the government falters. A Realmeter poll published on Monday showed President Yoon Suk Yeol’s approval rating fell for a third straight week, to around 33%.