President Lee Jae Myung calls for power conservation amid rising fuel costs, warning of a potential shift to electricity due to its government-controlled stable price.
SEOUL: President Lee Jae Myung has called on the public to conserve electricity. The request comes amid concerns that soaring fuel prices could prompt a major shift to electrical power.
Lee made the appeal while chairing an emergency economic meeting. The session was convened to address the economic fallout from the war in Iran on South Korea’s import-dependent energy sector.
The president warned that electricity’s comparatively stable price, maintained by a government-controlled tariff, could lead to increased demand. South Korea’s economy is almost entirely dependent on energy imports.
