The president of the Korea Gasoline Company emphasizes the necessity for a charge improve in a press convention
Yeonhye Choi, President of Korea Gasoline Company
Choi Yeon-hye, CEO of Korea Gasoline Company, stated normalization of management is inconceivable by self-rescue efforts alone and a speedy improve in gasoline charges is important.
In a press convention held in Sejong Metropolis on the twenty second, President Choi stated, “The present quantity of receivables is inconceivable to gather even when all staff work with out pay for 30 years, so it looks like we’re standing on the sting of a cliff. .” He added, “We’re utilizing all means to stop an excessive scenario, however we can not assist ourselves.” “It can’t be solved by effort alone, so a speedy improve within the charge is totally mandatory to make sure a secure gasoline provide,” he stated.
As of the top of March this yr, the civil receivables (residential and common) of Korea Gasoline Company quantity to 13.5 trillion received. Accounts receivable is the quantity of pure gasoline import fee that has not been recovered by gross sales charges and is a de facto loss. Though power costs have skyrocketed because of the Russia-Ukraine battle, Korea Gasoline Company has been promoting gasoline cheaper than price for a big time frame. As of the twenty second, town’s gasoline price compensation charge is round 80%. Which means that in the event you provide 100 million received price of gasoline, you incur a lack of 20 million received.
If gasoline charges will not be elevated, receivables are estimated to exceed 14 trillion received on the finish of this yr. President Choi stated, “Presently, we make a residing by borrowing, however the curiosity price resulting from borrowing alone is equal to 4.7 billion received per day.” He added, “The rise in the price of curiosity is as soon as once more changing into a think about elevating charges, resulting in a burden on the folks.” Final yr, Korea Gasoline Company spent 1.7 trillion received on curiosity bills alone.
President Choi argued that charges needs to be elevated in the summertime when houses will not be utilizing warmth. He stated, “As a result of excessive consumption demand sample within the winter, the general public notion of the speed improve is for certain to be a lot increased within the winter,” and “The speed must be raised in the summertime, when r demand. is low, and makes a smooth touchdown in phases.” To recuperate all civil receivables in a yr, gasoline charges should be elevated by about 27 received per MJ (megajoule).
Sejong = Reporter Lee Ho number2@donga.com
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