One Day Without a Car: Seoul Introduces New Energy Restrictions
25 March 21:21
South Korea has imposed restrictions on government officials’ use of vehicles amid rising fuel prices linked to the war in Iran.
The AP news agency reports on the government’s new measures, according to "Komersant Ukrainian".
New rules for government officials
According to the government’s decision, officials who use vehicles powered by fossil fuels must refrain from using their vehicles at least one day a week.
However, the restriction does not apply to eco-friendly vehicles, specifically:
- electric vehicles;
- hydrogen-powered vehicles.
This measure is intended to reduce fuel consumption and partially stabilize government spending.
Presidential Statement
President Lee Jae-myung announced the government’s decision during a cabinet meeting.
He called on the public to unite as a nation to overcome the economic consequences of the international crisis.
According to the president, the current pressure on the economy is comparable to the challenges the country faced during:
- the COVID-19 pandemic;
- previous global financial crises.
Fuel Price Controls
In addition to restrictions on officials, the South Korean government has also expanded state control over fuel prices.
Earlier this month, authorities reinstated price caps that had been lifted back in the 1990s.
The goal is to curb the sharp rise in the cost of gasoline and diesel.
The War’s Impact on the Global Economy
South Korean authorities attribute the decision to the global rise in energy prices caused by the conflict in the Middle East.
In particular, the economic pressure is linked to the war in Iran, which has affected global oil prices.
Similar measures in other countries
The energy crisis is forcing other countries to take anti-crisis measures as well.
For example, Spanish Prime Minister Pedro Sánchez previously unveiled a €5 billion economic support plan to mitigate the effects of rising global prices.
