SEOUL, June 17 (Korea Bizwire) – The government will extend the tax cut on fuel for automobiles by an additional two months but lower the cap for the reduction in consideration of global oil prices, inflation and the dwindling tax revenue, the finance ministry said Monday. South Korea has applied a 25 percent discount on [...]
SEOUL, Sept. 30 (Korea Bizwire) — South Korea will raise natural gas prices for civilian use next month amid high international gas prices, the industry ministry said Friday. Starting in October, natural gas prices for households and commercial use will be hiked by 2.7 won (US$0.002) per megajoule, the ministry said in a press release. [...]
SEOUL, June 22 (Korea Bizwire) — As a shortage of oil in recent months continues to push gasoline and diesel prices higher, more people are leaving their cars behind during rush hour. A 26-year-old office worker surnamed Kim, recently decided to push back his shift by one hour to ride Seoul Metro’s Line 4 to [...]
SEOUL, Oct. 18 (Korea Bizwire) — Gas prices in South Korea have continued to rise as oil prices hit a seven-year high amid the global economic recovery, data showed Monday. The average gasoline price nationwide stood at 1,724.7 won (US$1.45) per liter Monday, marking the highest since December 2014, according to the data compiled by [...]