The government has hinted at hikes in electricity and gas bills, but vowed to minimize the hikes to ease the burden on the public.

Finance minister Choo Kyung-ho issued the position on Sunday during an emergency meeting of the heads of ministries in charge of economic affairs.

The minister said the government will make excruciating efforts to minimize hikes in electricity and gas rates, as soaring global energy costs apply growing pressure that may only be alleviated with rate increases.

The government hinted that it will freeze other public utility fees such as railway fares, highway toll fees, and postal service, water and sewage charges in the second half of 2022.

The remarks indicate that the government would freeze most public utility fees, but it could raise electricity and gas rates.

Last week, the state-run Korea Electric Power Corporation asked the government to approve its proposal to raise electricity rates by up to three won per kilowatt-hour for the third quarter. The Korea Gas Corporation also plans to raise gas prices by zero-point-67 won next month to one-point-90 won per megajoule.