South Korea set to implement second phase of emergency measures...
The South Korean government will conduct energy management by large manufacturing facilities as part of its emergency measures to cope with the high international crude oil prices and launch a nationwide energy conservation campaign with numerous civic groups.
When the high crude price trend drags onto next month, it will adopt a ''cash back'' system, where it will return a certain portion of electricity and gas bills to households that cut their energy spending by more than 10 percent. It will also activate the second phase of the three-phased high oil price emergency measures, such as restricting elevator usage at buildings.
''The government will place the focus of its high crude oil price emergency measures on voluntary energy conservation campaigns until the OPEC meeting slated for March 31. When the high oil price continues, we will simultaneously implement a second phase of the emergency measures and domestic oil price stabilization measures,'' said Lee Hee-beom, Minister of Commerce, Industry and Energy at a press meeting on Wednesday.