South Korea lifts electricity prices by 5.3% in delayed move

Korea Electric Power

15/05/2023 01:46

SEOUL, May 15 (Reuters) - South Korea said on Monday it
will raise electricity prices by 5.3% to reflect some of the
increased power generation costs, a move delayed more than a
month because of the likely effect on already high inflation and
the cost of living. 
    It is the second increase in power prices this year after a
sharper 9.5% hike that took effect at the beginning of the year.
The price adjustment had been due on April 1 but was delayed
after public outcry about the increased cost of living.

 (Reporting by Choonsik Yoo; Editing by Tom Hogue)
 ((choonsik.yoo@thomsonreuters.com))