During Q2 2018, the price of electricity in South Korea was 126.089 South-Korean Won which was equivalent to 0.117 USD at the exchange rate at the time of collecting the data. During the same time, the world average price was 0.115 USD per kWh of electricity used. These numbers are based on annual household consumption of 3300 kWh.

Korea Electric Power Corporation (KEPCO) holds about 90 percent of Korea’s electricity supply. The South Korean government owns about half of KEPCO. The country has taken its first steps toward partial liberalization as it opens its electricity generation market to private companies.

The electricity bill is composed of basic charge and energy charge. Both depend on the amount of electricity consumed during the billing period as they are divided into three consumption levels: 0-200 kWh, 201-400 kWh, above 400 per month. In both charges, every following level has a higher price.