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What is Korea’s Future and Survival Strategy in the Era of Climate Crisis?

Korea Must Change Its Distorted Energy Pricing System” = Some argue that Korea’s competitive edge comes from its cheap electricity. Korea has one of the lowest electricity rates among OECD countries. Despite soaring international energy prices and production costs, Korea has frozen its electricity rates, leading to a staggering 30 trillion won loss for Korea Electric Power Corporation in 2022. With the current pricing structure not covering costs, there is little incentive to save energy or improve efficiency. Korea must now correct its distorted energy pricing system. Rational electricity pricing will reduce consumption and carbon emissions.

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