South Korea lifts power prices by 5.3% in delayed move

By Azernews

South Korea said on Monday it will raise electricity prices by 5.3% to partly reflect increased generation costs, a move delayed more than a month because of the likely effect on already high inflation and the cost of living, Azernews reports citing Reuters.

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 a public outcry about the increased cost of living.