The South Korean government is weighing a proposal to issue vouchers to vulnerable households to mitigate the impact of the Middle East energy crisis.
Industry Minister Kim Jung-kwan stated on Friday that the administration intends to “take all necessary measures” to minimise the burden of surging energy prices.
Additionally, Kim noted that the government will restrict exports of naphtha, a derivative of crude oil.
This substance is essential for creating raw materials for plastic production and is also used for industrial cleaning. These actions come as the nation, one of the top global crude oil importers, continues to depend on foreign sources for nearly all its fossil fuel requirements.
