The small and midsize business sector welcomed the government's introduction of a "region-based electricity pricing system."
Korea Federation of Small and Medium Enterprises said on the 26th in a statement that "power demand is surging with the growth of AI and advanced industries, but difficulties in the national power supply and demand are mounting due to concentrated demand in the capital area and delays in building power grids," adding that it welcomes the introduction of a region-based electricity pricing system.
KBIZ particularly expected that, at a time when an increase in industrial electricity rates is leading to higher expense burdens for corporations and weaker competitiveness, the introduction of a region-based electricity pricing system and an overall trend of lowering electricity rates will ease the burden on corporations and help industrial growth and balanced regional development.
It also urged swift implementation of the system. KBIZ emphasized, "Because electricity rates are directly tied to corporations' production and investment activities, we hope the system will be implemented quickly so that its effects can appear early on the industrial front lines."
KBIZ also said, "For the system's effects to continue through the success of mega projects and the fostering of national strategic industries, policies for balanced regional development—such as regulatory innovation, support for residential conditions, and infrastructure expansion—must also be prepared." It added, "We expect the region-based pricing system to lay the groundwork for vitalizing distributed energy and to take root as a successful system that simultaneously drives improved industrial competitiveness and balanced regional growth."