South Korea to freeze utility fees in second half of year

South Korea will freeze major public utility fees, including electricity and gas, for the latter half of 2026, announced Deputy Prime Minister for Economy Gu Yun-cheol. The decision aims to alleviate the burden of living costs on citizens amidst ongoing economic concerns.

The announcement came during an emergency economic council meeting held on June 26, 2026, at the Government Complex in Seoul. The meeting, which also included economic ministers, focused on special management measures for consumer prices and discussed other agenda items, such as the designation of the seventh oil price ceiling.

Officials are seeking to stabilize the prices of essential goods and services to support household finances. The government's move signals a commitment to mitigating inflationary pressures and ensuring basic necessities remain affordable for the public.