Gov't to lower cap on fuel prices, freeze utility rates in H2

Finance Minister Koo Yun-cheol (3rd from R), who serves concurrently as deputy prime minister for economic affairs, speaks during a meeting with economy-related ministers at the government complex in Seoul on June 26, 2026. South Korea will lower the cap on fuel prices to reflect the recent decline in global crude oil prices, Koo said, while freezing electricity and gas rates in the second half. (Yonhap)

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