Choo Kyung-ho: "Financial support after gas price hike is like Josam-mosa"

[Asia Economy Sejong=Reporter Dongwoo Lee] Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho stated that it is a case of 'Josam-mosa (朝三暮四)' for the government to provide financial support after raising public utility fees.

Deputy Prime Minister Choo made these remarks on the 10th at the Editors' Association monthly forum held at the Press Center in Jung-gu, Seoul.

He explained the recent response measures to the sharp rise in heating costs, saying, "The issue is whether to continue allowing Korea Gas Corporation's deficit, reflect the (cost increase) in prices so that the public bears the gas fee increase, or to live by borrowing 60 trillion won from the national treasury but continue to borrow more."

He added, "I believe the latter is the least desirable. Raising gas fees and then supporting them with finances is Josam-mosa," emphasizing, "It is better for the government to provide direct support."

Deputy Prime Minister Choo further stated, "I think we should proceed with a combination of gradually adjusting fees over several years, allowing the public to endure the amplitude and timing, and gradually improving Korea Gas Corporation's deficit." He explained, "We need to seek public cooperation and handle any parts that the public sector must bear."

Regarding heating cost support for the middle class, Deputy Prime Minister Choo said, "It is at the stage of review with related agencies, so it will take some time," and added, "There needs to be a process of adjusting gas and electricity fees in the future, and we are considering how to manage the middle class's burden and the timing during that process."

He also said, "I think a somewhat different route from the current method of supporting heating costs for vulnerable groups will be necessary," and added, "We are continuing discussions with related agencies on that matter."

This content was produced with the assistance of AI translation services.