Joo Ho-young "Considering Subsidies and Vouchers for Heating Cost Bomb"

"Hold Party-Government Talks to Review"
Support for Vulnerable Groups Confirmed
Final Decision After Expert Consultation

[Asia Economy Reporter Hyunju Lee] On the 26th, Joo Ho-young, floor leader of the People Power Party, stated, "We cannot just stand by and watch the heating bill bomb, so we are considering all options such as providing heating bill subsidies or issuing so-called energy vouchers."

In a phone interview on CBS Radio's Kim Hyun-jung News Show, Floor Leader Joo said, "It is natural to start with the vulnerable groups, but we plan to hold consultations between the party and government and listen to experts' opinions to determine which method is most effective and how to best use the limited resources."

Joo Ho-young, floor leader of the People Power Party, is attending the floor strategy meeting held at the National Assembly on the 25th and delivering opening remarks. Photo by Dongju Yoon doso7@

He added, "We will soon hold a policy consultation meeting between the party and government to find solutions to this issue."

Floor Leader Joo attributed the recent surge in heating costs to the Moon Jae-in administration's policy of not raising gas fees despite the increase in LNG prices, and even lowering them. He said this led to a loss of 8.8 trillion won for the Korea Gas Corporation last year.

He explained, "When the raw material cost of gas rises, there should be a counteracting effect by slightly raising gas fees to reduce consumption, but the previous administration neglected this due to excessive populism, resulting in this outcome. Currently, the authorities have no plans to raise fees in the first quarter, but from the second quarter onwards, an increase in gas fees is inevitable."

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