Korea Economic Cooperation said, "We are concerned that the increase in electricity rates will dampen management activities."

The business community says it is concerned that the increase in industrial electricity prices will accelerate the contraction of business activities.

The Federation of Korean Industries said the domestic industry is already at its limit due to high prices, exchange rates, and high interest rates.

He added that the differential increase in electricity rates is inevitable due to KEPCO's debt burden and difficulties in the low-income economy, but it will be a big burden on the industry.

He also stressed that a cost-based electricity rate determination system should be established, and that it is necessary to consider a positive method that benefits from saving electricity, not a negative method of raising rates.