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Gas prices are displayed outside a gas station in Seoul on Feb. 9.
The government will extend its fuel tax cut for two more months through April in a bid to alleviate the financial burden on consumers, the Finance Ministry said Thursday.
Gasoline and diesel prices in Korea soared for the 12th consecutive week due to the strong dollar and a rise in the global crude prices.
The state-run Korea Electric Power Corporation (Kepco) said Monday it plans to freeze the adjusted fuel cost for the first quarter of 2025.
The Finance Ministry said Thursday it has selected the southeastern city of Gyeongju as the site for a 771.6 billion won ($552.8 million) project to construct the country's largest hydrogen fuel cell power plant.
Finance Minister Choi Sang-mok annouced that the fuel tax cut will be extended through February to alleviate the financial burden on low-income households.
Hyundai plans to launch a new hydrogen-powered SUV, inspired by retro designs, in the first half of next year.
The government has extended the fuel tax cut, originally set to expire on Oct. 31, by two months, until the end of this year.
Korea will require the use of a mix of Sustainable Aviation Fuel on all international flights departing from the country from 2027 in an effort to align with the global push for carbon neutrality.
Korea must act more aggressively to secure LNG to meet the carbon neutrality goal by 2050.
Korea JoongAng Daily Sitemap