Energy Consumption on the Rebound

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Energy Consumption on the Rebound

According to the Ministry of Commerce, Industry and Energy(MOCIE), on March 9, consumption of petroleum and electric power in January increased by 11.8 percent year to year to 17 million tons.
Energy consumption had been decreasing since December 1997 as a result of the the IMF bailout, but after 13 months, in which energy prices have fallen, it has started to increase.
MOCIE analysed that the increase can be attributed to the recent recovery of Korea's industrial sector.

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