Industrial Electricity Rate Reform Cheap by Day, Expensive by Night
South Korea's electricity policy is undergoing a fundamental paradigm shift. The low-cost, industry-supportive tariff policy of the high-growth era is now facing a massive accumulated deficit and the imperative of carbon neutrality. The government and the Ministry of Climate, Energy, and Environment (MOECE) are reforming time-of-day tariffs, focusing on industrial power, and introducing differential tariffs by region to efficiently distribute electricity demand and stabilize the grid. These policy changes are not just about changing the number of electricity bills, but also the manufacturing cost structure and positioning of Korea's flagship industries - semiconductors, steel, petrochemicals...