Lee Chang-yang, Minister of Industry, States "Burden of Heating Costs Due to Moon Administration's Nuclear Phase-Out Policy"

7th Day Government Questioning on Economic Issues

[Image source=Yonhap News]

[Asia Economy Sejong=Reporter Dongwoo Lee, Sejong=Reporter Seungseop Song] Lee Chang-yang, Minister of Trade, Industry and Energy, mentioned on the 7th that the Moon Jae-in administration's nuclear phase-out policy was the cause of the 'heating cost bomb.'

Minister Lee made this remark in response to a question from Han Mook-kyung, a member of the People Power Party, during the government economic sector questioning session held at the National Assembly in the afternoon, asking, "Is the previous administration's nuclear phase-out policy the cause of the heating cost bomb?"

Minister Lee said, "I think the nuclear phase-out policy, such as delays in coal and nuclear power generation, increased the use of energy sources like liquefied natural gas (LNG), which led to the burden of heating and electricity bills," adding, "If the LNG share had decreased and the nuclear power share had increased, naturally the burden of gas and electricity bills would have been alleviated."

Regarding the freezing of gas price hikes during the previous administration, Minister Lee stated, "International LNG prices rose from early 2021 and surged sharply in the second half of the year," and added, "If economic considerations were the priority, price increases would have been desirable, but I think there were other considerations."

Concerning criticisms of Korea Gas Corporation's reckless management, Minister Lee said, "This is according to management evaluation regulations, but given the recent surge in Korea Gas Corporation's unpaid receivables and the increase in gas prices, it is difficult for the public sentiment to accept this," and added, "We will consult with the Ministry of Economy and Finance to review whether there are any improvement measures."