Anduk Geun "Electricity Rates, Gradual Normalization Considering Public Burden and International Energy Prices"

Anduk Geun, nominee for Minister of Trade, Industry and Energy, is responding to questions from lawmakers at the confirmation hearing held at the National Assembly on the 3rd. Photo by Hyunmin Kim kimhyun81@

On the 3rd, candidate for Minister of Trade, Industry and Energy Andeok Geun stated, "We are considering a plan to normalize rates step-by-step at an appropriate time through comprehensive consideration of the national economic burden, international energy prices, exchange rates, and other factors."

Candidate An made this remark in response to a question from Kim Jeong-ho, a member of the Democratic Party of Korea, during the confirmation hearing at the National Assembly's Industry, Trade, Energy, Small and Medium Enterprises Committee.

Regarding the failure to host the 2030 World Expo (Expo) in Busan, he repeatedly expressed regret, saying, "I feel deeply responsible as a member of the government and am sincerely sorry for the outcome." He explained, "It is understood that many countries that initially supported our country's bid changed their stance at the last moment due to various efforts by Saudi Arabia."

On the issue of Korean electric vehicles being excluded from subsidies under the so-called 'French version of the Inflation Reduction Act (IRA),' he said, "Intergovernmental consultations are scheduled to continue this month," adding, "We plan to negotiate to minimize the damage to Korean companies as much as possible."

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