South Korea says consider giving household voucher

South Korea is considering providing additional energy vouchers to ⁠subsidise vulnerable households if rising global fuel prices in the wake of the Middle East crisis push up electricity costs, the government said.



Asia's fourth-largest economy is also preparing to boost nuclear and coal-fired power generation in the event that oil prices remain high and liquefied natural gas (LNG) supplies are disrupted.



Acocrding to the Climate and Energy Minister "The government will take all necessary measures to minimise the burden on the people, such as stabilising energy supply and demand, price management, and supporting people vulnerable (to rising energy costs).



South Korea relies almost totally on imports for its energy, buying about 70% of its oil and 20% of its LNG from the Middle East, according to Korea International Trade Association data.



To reduce dependence on LNG, the Climate and Energy Ministry said this week it would accelerate the restart of nuclear reactors under maintenance, with two units expected to come back online as soon as March and four more by mid-May.