Provide of ‘electrical energy and fuel’ under value… Piling up debt
The debt ranking fell barely this 12 months… Monetary disaster ‘nonetheless’
“KEPCO and Korea Gasoline Company predicted 4 trillion to five trillion received curiosity earned this 12 months.”
KEPCO has a cumulative deficit of 43 trillion received… Working revenue additionally fell
Korea Gasoline Company’s receivables are 13.5 trillion received… Digital working loss
It was revealed that Korea Electrical Energy Company and Korea Gasoline Company, that are in monetary disaster, paid 1.5 trillion received in curiosity alone within the first quarter of this 12 months.
Regardless of self-help efforts to scale back debt, the debt has not decreased considerably.
The federal government is comprehensively reviewing the timing of the rise in electrical energy and fuel charges taking into consideration the impression on the nationwide economic system, together with costs.
Reporter Oh In-seok reviews.
[기자]
On the finish of final 12 months, the overall debt of Korea Electrical Energy Company and Korea Gasoline Company was near 250 trillion received, an all-time excessive.
This can be a results of supplying electrical energy and fuel under value after 2022 as a result of worldwide vitality disaster attributable to the conflict between Russia and Ukraine.
Though the overall debt of KEPCO and Korea Gasoline Company has decreased barely this 12 months, the monetary disaster continues.
Within the first quarter of this 12 months, KEPCO paid 1.05 trillion received and Korea Gasoline Company paid 400 billion received in curiosity bills.
The curiosity paid by the 2 corporations within the first quarter was equal to a mean of 16.7 billion received per day.
If this development continues, KEPCO and Korea Gasoline Company are anticipated to pay 4 trillion to five trillion earned in curiosity this 12 months.
Because of this all cash earned via enterprise is paid as curiosity bills.
Each corporations’ debt has not been decreased to a major stage regardless of numerous efforts to scale back debt, comparable to promoting non-core actual property, delaying funding timing, and returning govt and worker salaries.
KEPCO’s gathered deficit of 43 trillion received stays, and its working revenue seems to be shrinking resulting from rising vitality costs resulting from excessive trade charges and political instability within the Center East.
Korea Gasoline Company’s receivables for civilian metropolis fuel quantity to KRW 13.5 trillion, and it provides fuel at solely about 80% of the price.
This causes additional will increase in electrical energy and fuel charges.
The federal government is comprehensively reviewing the timing of the rise and its impression on the nationwide economic system, together with costs.
[안덕근 / 산업통상자원부 장관 (지난 8일 YTN ‘경제PICK’ 출연) : 시기를 특정하기는 어렵습니다. 정상화 필요성은 있지만, 산업부 장관으로서 에너지요금을 올리면 우리 산업이 상당히 어려움을 겪기 때문에 종합적으로 고려를 하고 있고, 적절한 시점이 언제가 될지 고민을 하고 있는 중입니다.]
Along with a monetary disaster, some predict that this might result in a battle between the technology that has used vitality at low costs and the technology that should bear further will increase sooner or later.
That is Oh In-seok from YTN.
Video modifying by Han Soo-min
Design: Jinho Kim
YTN From In-seok (insukoh1@ytn.co.kr)
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