Medium-sized Business Sector "Exports Are Difficult, and Electricity Prices Are Soaring... KEPCO Act Needs Amendment"
[Asia Economy Reporter Kwak Minjae] Following the rejection of the amendment to the Korea Electric Power Corporation Act, which aimed to increase the corporate bond issuance limit of Korea Electric Power Corporation (KEPCO), the small and medium-sized enterprises (SMEs) sector has urged the prompt revision of the KEPCO Act.
On the 14th, the Korea Federation of SMEs issued a statement saying, "With exports plummeting by 21% compared to the previous year in early December, and electricity rates having already increased by 17.9% this year due to the rejection of the KEPCO Act amendment, it is expected that electricity prices will surge again, further exacerbating difficulties faced by SMEs on the ground."
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They added, "As electricity demand soars due to the recent cold wave, the government and the National Assembly must promptly revise the KEPCO Act to alleviate the burden of electricity rate hikes in the short term and, in the long term, prepare a phased and reasonable rate reform plan to ease the burden on SMEs."
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