SEOUL, Jul. 1 (Korea Bizwire) — The government decided to put on hold a plan to raise gas prices this month despite the mounting losses of the state-run Korea Gas Corp. (KOGAS) to ease the financial burden on people amid economic uncertainties, officials said Monday. South Korea has been reviewing raising gas prices supplied by [...]
SEJONG, May 22 (Korea Biziwre) — The head of the state-run Korea Gas Corp. (KOGAS) on Wednesday highlighted the need to gradually raise gas prices as early as possible, ahead of the winter season, to mitigate the impact of the hike on consumers. The remark came as KOGAS has been facing financial difficulties due to its inability to raise utility costs enough to address fluctuations in the global market for liquefied natural gas. “KOGAS is currently maintaining its operations through loans due to the [...]
SEOUL, May 11 (Korea Bizwire) – Gas prices in North Korea have skyrocketed amid rumors that China might control its oil supply to the troublesome ally to comply with the international community’s sanctions against the North’s nuclear development, a U.S. broadcaster said Thursday. Gas stations in Pyongyang recently raised oil prices by more than 85 [...]
SEJONG, Dec. 23 (Korea Bizwire) – The South Korean government said Friday that it will make full efforts to control rising living costs largely driven by the worst outbreak of avian influenza here and a gain in oil prices. At an emergency economic response team meeting chaired by Vice Finance Minister Choi Sang-mok in Seoul, [...]