South Korea Should Raise Electricity Prices, Policy Adviser Says

South Korea’s government should raise electricity prices to reflect higher generation costs and curb excessive demand, a state adviser on energy policy said.

Prices should be boosted by another 10 percent, following a 4.9 percent increase in power tariffs on Aug. 1, to cover a surge in the cost of generation, Kim Jin Woo, president of the Korea Energy Economics Institute, said in an interview yesterday at his office in Uiwang-si, Gyeonggi-do.