A notice is displayed at an administrative welfare center in the southwestern city of Gwangju, on the first day of applications for an energy voucher program, June 15. The energy voucher program provides financial support within a certain limit for energy expenses — including electricity bills, city gas fees, district heating costs, and briquette purchases — to climate-vulnerable groups such as senior citizens, people with disabilities, and infants from households receiving basic livelihood security benefits. Yonhap
South Korea will lower the cap on fuel prices to reflect the recent decline in global crude oil prices, the finance minister said Friday, while freezing electricity and gas rates in the second half.
Finance Minister Koo Yun-cheol made the remarks during a meeting with economy-related ministers, noting the price cap system will remain in place until consumer prices are fully stabilized.
In mid-March, the government introduced fuel price caps in a bid to stabilize domestic fuel prices amid supply chain disruptions caused by the conflict in the Middle East.
