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Today's (20th) news will start with economic news close to our lives. First, electricity and gas rates will be frozen in the first quarter of next year. Some argue that the price hike cannot be delayed any longer because the cost of raw materials has risen so much, but the government explains that there is nothing that can be done right now because prices are soaring and the economy is struggling because of the corona virus.



First news today, this is reporter Jang Hoon-kyung.



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Ahead of the rate decision in the first quarter of next year, KEPCO has asked the government to raise 3 won per kWh and KOGAS by 10%.



The Ministry of Trade, Industry and Energy also agreed with the need for an increase in the burden of soaring raw material costs, but the Ministry of Strategy and Finance chose to freeze it.



The economy is struggling due to the prolonged corona virus and high inflation, but the burden cannot be increased.



Electricity and gas rates are supposed to be linked to fuel costs, but in exceptional circumstances the government may reserve them.



[KRW 200 million / 1st Vice Minister of Strategy and Finance: In terms of prices for ordinary people, electricity and city gas bills are actually very burdensome.]



KEPCO is the first to receive 9,000 We lost 30 billion won.



KOGAS is also estimated to have reached 1.5 trillion won in receivables at the end of the year due to the rate freeze that has continued since July last year.



The Ministry of Strategy and Finance, which blocked the rate hike, also hinted at the possibility of a rate increase after the second quarter, saying that it is necessary to spread the adjustment period rather than limiting the utility rate.



The government has decided to raise the tax reduction rate by 10 percentage points to gas stations that are converting to thrifty gas stations next year to stabilize oil prices.



In addition, a price liability system for each government department is introduced, in which the Ministry of Education manages private institute expenses, the Ministry of Land, Infrastructure and Transport for apartment housing management, and the Financial Services Commission manages automobile insurance premiums.



In case local utility rates are also frozen, the local government will be given incentives.



(Video coverage: Kim Min-cheol, Video editing: Lee Seung-yeol)



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