Gas prices to go up by 5.8% starting January 1stUpdated: 2013-12-31 PM 9:32:32 (KST)
[Looking ahead now to 2014]
The price of natural gas is set to go up by roughly 5.8 percent starting January first, reflecting a recent hike in import prices.
The Korea Gas Corporation made the announcement Tuesday, saying that the decision was made on growing demands for gas after three of the country's nuclear reactors were shut down earlier this year.
The price of gas for households will go up by 5.7 percent, translating into an additional 4 dollars per household a month.
The industrial sector will see a 6.1 percent increase, and the service sector a 5.5 percent hike.
This is the third time this year gas prices have gone up, after similar surges in February and August.