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Cigarette, natural gas prices to rise

Posted December. 29, 2000 18:26,   


Starting Jan. 1, domestic prices of 11 different cigarette brands will increase

by 100-200 won. Also, the retail price of natural gas will rise by as much as 8.

2 percent.

Korea Tobacco & Ginseng Corp., through consultation with the Ministry of Finance

and Economy, decided Thursday to increase the prices of This and two other ciga

rettes by 200 won, and the prices of eight other brands, including Simple, by 10

0 won from the beginning of next year. The decision was made in line with increa

sed cigarette consumption tax and transportation tax, which were approved by the

National Assembly on Dec. 15.

Korea Gas Corp. will increase the wholesale price of natural gas from 364.87 won

per cubic meter to 399.82 won, up 9.6 percent. As a result, the retail price wi

ll rise 8.2 percent from 428.71 won to 463.66 won per cubic meter.

The gas price rise is considered to be the largest hike since last year. The ave

rage household that uses 75 cubic meters per month for cooking or heating has to

pay an additional 2,878 won per month.

In addition, the medical insurance premium, which has been increased three times

by 23 percent so far this year, will rise 7 percent from January. For this reas

on, poor families will find it burdensome.

Korea Telecom is projected to raise the basic charge for local call service by a

s much as 2,000 won starting in February while lowering the call charge to 7.5 w

on per three minutes.