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Vice Minister of the Ministry of Economy, Trade and Industry “Reduction of tariffs on fuel and LNG quota… Announcing a major economic book next week”

[한국방송/김명성기자] The government has decided to cut the fuel tax to ease the burden on the economy for the working class due to the surge in international oil prices, and plans to announce specific measures such as the extent of the cut next week.

In addition, the tariff rate for liquefied natural gas (LNG) will be adjusted.

Lee Won Lee, 1st Vice Minister of Strategy and Finance, said this at the meeting of ‘The 36th Innovative Growth Strategy Review Meeting, Policy Review Meeting, Korea Version New Deal Review Meeting, and 31st Inflation Relations Vice Ministers’ meeting held at the government complex in Seoul on the 22nd.

Vice Minister of Strategy and Finance Lee Won Lee presides over the ’36th Innovative Growth Strategy Review Meeting, Corona Policy Review Meeting, Korea Version New Deal TF and 31st Inflation Relations Vice Ministers Meeting’ held at the government building in Gwanghwamun, Seoul on the 22nd and gives a speech. . (Photo = Ministry of Strategy and Finance)

Vice Minister Lee said, “As the recent surge in global energy prices can act as upward pressure on domestic prices, we are actively pursuing preemptive countermeasures to stabilize prices and ease the burden on the economy for the working class. We will confirm specific measures such as width and application period as soon as possible and announce the details at the emergency economy meeting next week,” he explained.

“In response to the sharp rise in natural gas prices, we will also announce a plan to further reduce the quota tariff rate on LNG (liquefied natural gas), which is currently 2%,” he said. We will support alleviating the burden of the cost of living in the country,” he said.

In addition, he said that he would do all he could to manage stable prices, such as supply and demand management of agricultural, livestock and fishery products and freezing public charges.

At the meeting, there was also an inspection on the status of import/export logistics support.

“Due to the increase in global cargo volume, shipping rates are still at an all-time high, and 150 ships are waiting for unloading near the ports of Los Angeles and Long Beach in the US due to the shortage of cargo and truck drivers in the US and Europe,” said Vice Minister Lee. “The backlog of local ports and inland transportation is not easily resolved,” he said.

To this end, the government decided to continuously expand the input of temporary ships and aircraft, and by mid-November, put in 5 temporary ships, mainly on routes to the Americas with heavy congestion.

In addition, it plans to increase the number of cargo planes operated by national airlines on the American route to more than 10,000 this year through expedited permission for irregular cargo flights.

By strengthening the support for small and medium-sized enterprises (SMEs), an additional 36TEU of fresh agri-food, which is operating at 200TEU per month on the American route, will be allocated to ships in the Australian port from November to provide a total of 236TEU.

Logistics and financial support were also explained.

Vice Minister Lee said, “We will strengthen the execution check for this year’s logistics cost budget of KRW 26.3 billion so that it can be executed in a timely manner by the end of the year. We will do our best to provide sufficient support by easing the support standards,” he said.

Local logistics support will also be strengthened.

Vice Minister Lee said, “Busan Port Authority and KOTRA will establish a joint logistics center where export companies can store cargo at a low cost of 10 to 20 percent, early next year in Rotterdam in January next year, and in places with high logistics demand, such as Barcelona and Java in the first half of next year.” he explained.

In addition, he added, “From the end of October, we will promote a support project that connects sea transport and inland logistics in the West’s Port in the Americas at a scale of 20 TEU for small and medium-sized shippers by utilizing the Postal Service Headquarters and the network of local logistics companies.”

At the meeting, the ‘current status of hydrothermal energy activation and future plans’ was also discussed.

Vice Minister Lee said, “Hydrothermal energy is a low-carbon energy source that does not burn fuel while meeting large-scale heat demand, and it is necessary to actively foster it as a carbon-neutral core energy source. We will accelerate the spread and industrialization of hydrothermal energy by promoting core tasks such as expanding the base,” he said.

The government has decided to create a hydrothermal convergence cluster with a total project cost of 304 billion won in the Chuncheon-si area and develop it as a representative carbon-neutral cluster by linking data center clusters, smart high-tech agricultural complexes, and water-energy new industry clusters.

Inquiries: Macro Policy Division (044-215-2830), Economic Policy Division, Ministry of Strategy and Finance (044-215-2830), Price Policy Division (044-215-2770), Regional Economic Policy Division (044-215-4570), Promotion Division of Climate Response Fund Promotion Division (044-) 215-4940), Korea Version New Deal Working Group Planning Team (044-960-6160), Korea Version New Deal Working Group Green New Deal Team (044-960-6180)

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