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Freezing public utility rates in the first half of this year, Incheon aggressive in coping with skyrocketing prices

Created date
2023-02-22

Prices frozen for seven utility sectors, including city gas and public transportation... Discounts expected on the new sewerage rates during the first half of the year as well

The Incheon Metropolitan City Government has made the decision to freeze public utility charges managed by the City in the first half of this year in order to ease the burden on its citizens suffering from the effects of a slower economy and skyrocketing prices.

This decision is particularly note worthy as it comes on the heels of Seoul deciding to up its taxi fares and other utility rates. Incheon currently remains the only municipality to freeze its utility costs.





▲ The Incheon Metropolitan City Government has made the decision to freeze public utility charges managed by the City in the first half of this year in order to ease the burden on its citizens suffering from the effects of a slower economy and skyrocketingprices. Image of Incheon’s public transportation system.

An official from the Incheon Metropolitan City Government said, “Although it will put pressure on the City’s finances, we made the decision to freeze all public utilities charges managed by the City in the first half of the year.” The official added, “This decision is aimed at stabilizing our local economy and relieving the anxiety building across the city and at-risk communities by keeping public utility rates, which are important pillars of our lives, as steady as possible.”

The City believes that this decision will reduce the financial pressure on its citizens to the tune of KRW18.9 billion in City bus fares and KRW 5 billion in subway fares. Inparticular, sewerage rates, which the City had raised on January 1 of this year, will remain on a discount during the first half of the year, and this is expected to help Incheon ease the burden on its citizens caused by higher utility charges.

Moreover, regarding hikes to the water and City gas bills that have been postponed to the second half of the year, the plan is to keep prices stable and minimize the burden on low-income households as they are enforced in the second half of the year.

Last month and early this month, the City decided to use KRW 17.3 billion in heating expenses not only for low-income households and social welfare facilities, but also for the lower-income households, as the at-risk population across Incheon is experiencing difficulties staying warm due to skyrocketing heating costs.

Incheon plans to provide additional support of up to KRW 188.7 million to “Fair Price Businesses” acrossits ten Gun/Gu counties and districts to make sure businesses help keep price levels steady and keep the cost of daily necessities low for working-class families.

 

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