Power matters

Minister of Knowledge Economy Hong Suk-woo checks and discusses the electricity supply and demand for the summertime at the Korea Power Exchange in southern Seoul yesterday. The Korea Meteorological Administration yesterday issued this year’s first heat-wave advisory in Seoul as the city’s temperature reached 32.1 degrees Celsius (89.7 Fahrenheit) yesterday. The agency also upgraded a heat-wave advisory to a warning in North Gyeongsang. As the hot weather continues, electricity demand spiked at 72.78 million kilowatts at one point and the rate of electricity reserves dipped to 5.7 percent. Korea Power Exchange Chairman Nam Ho-ki said the situation could get even worse after tomorrow and a real crisis could come in mid-August when factories go back into production after vacations. [NEWSIS]