Commoners Struggling... Public Utility Late Fees Vary Up to 30 Times

Overdue Postal Fees for 5 Years Unpaid Are 30 Times Electricity Charges
Kwonikwi Conducts Two-Week Survey on Gukmin Saenggakham Starting the 29th

[Sejong=Asia Economy Reporter Moon Chaeseok] The Anti-Corruption and Civil Rights Commission announced that it plans to conduct a two-week survey on the public opinion platform "Gukmin Saenggakham" starting from the 29th, under the theme of whether it is appropriate for public utility late fees to vary up to 30 times.

According to the Commission, assuming a principal amount of 10,000 won, the late fee for unpaid postal charges over 5 years is 7,500 won, which is 75% of the principal. This is 30 times the 250 won electricity fee. In terms of annual interest rate, postal charges are 17%, and electricity charges are 2.5%, showing a difference of about 7 times.

Citizens have expressed complaints such as "An annual interest rate of 17% for late fees is too high in a low-interest era," "Late fees for postal charges and others need to be lowered," "Collecting the total amount at once even if late by just one day is too harsh," and "Applying the same late fee rate to both short-term and long-term late payers is unfair."

In response, the Commission announced that it will collect public opinions over the next two weeks through the online public participation portal "Gukmin Saenggakham" regarding ▲experience with public charge late payments ▲appropriateness of late fee levels ▲policy improvement measures. These opinions will be actively used to prepare institutional improvement plans.

Yang Jongsam, Director of the Policy Improvement Bureau at the Anti-Corruption and Civil Rights Commission, said, "It is problematic that late fees vary by as much as 30 times without reasonable grounds," adding, "It is time for public sector improvement efforts, such as adjusting late fee imposition standards to meet the public’s expectations."