Busan, Korea Electric Power sign MOU to expand energy voucher use for small businesses

Busan city government and Korea Electric Power signed an MOU Monday afternoon at the International Protocol Hall of Busan City Hall to expand the use of small business energy vouchers. Officials from both institutions attended the signing ceremony, including the city's director general of the citizen economy bureau and the head of Korea Electric Power's Busan-Ulsan regional office.

The agreement aims to extend the coverage of small business energy vouchers from vehicle fuel costs to electricity bills, easing the energy cost burden on small business owners and increasing the practical utility of the vouchers.

The city has been running a small business energy voucher support project to help local small business owners struggling with rising energy costs. Since Sept. 28, it has been distributing energy vouchers worth 200,000 won ($150) per person to small business owners in Busan through the Dongbaekjeon policy subsidy system.

The two institutions agreed to cooperate on establishing and operating an electricity bill payment system, running Dongbaekjeon merchant networks, informing small business owners of payment methods, and building a response system for inquiries and complaints arising during the process.

Energy costs are a fixed monthly operating expense for small business owners, and the city expects that broadening voucher coverage to include electricity bills on top of vehicle fuel costs will help ease their management burden.

"We will continue to work closely with Korea Electric Power to make it easier for small business owners to use energy vouchers," said Park Dong-seok, the city's director general of the citizen economy bureau.