Policy & Regulation

South Korea to cut taxes on LNG for power generation

South Korea’s Ministry of Economy and Finance plans to cut taxes on LNG for power generation by 74%.
By Staff reporter 1 August 2018 0 31982

South Korea’s Ministry of Economy and Finance plans to cut taxes on LNG for power generation by 74%, from KRW 91.4/kg ($0.08/kg) to KRW 23/kg, the ministry said on Monday.

Taxes on thermal coal burned to generate electricity will rise by 27%, to KRW 46/kg from KRW 36/kg.

The changes will take effect in April 2019 if the new tax code is approved by the National Assembly.