In response to the sustained high oil prices triggered by conflicts involving the U.S. and Iran, South Korea's Ministry of Climate and Energy has decided to boost the operational rates of both nuclear and coal power plants. On November 11, a meeting was held in Seoul under the leadership of Minister Kim Sung-hwan to discuss energy policies amid the ongoing Middle Eastern situation. Representatives from both public enterprises, like Korea Electric Power Corporation and Korea Hydro & Nuclear Power, as well as private companies such as SK Innovation and POSCO International, attended this gathering to strategize on energy supply in light of surging international commodity prices.

The ministry highlighted that while there has been a noticeable spike in international oil and natural gas prices due to current geopolitical tensions, the direct impact on electricity tariffs has yet to be felt, primarily due to lag effects in the power market. However, the government cautioned that if high prices persist, especially in the importation of liquefied natural gas, it could have inevitable repercussions on energy prices and supply stability domestically. As a response, plans are in place to ensure that existing nuclear power plants are reactivated during periods of lower electricity demand, aiming to maximize their utilization.

Moreover, the Ministry is also considering coal power generation as a fallback if supply disruptions are foreseen, particularly in light of recent restrictions intended to curb fine dust pollution during certain periods. The government is attempting to mitigate any increase in emissions by selecting optimal times for elevated coal power usage and enhancing pollution control measures, all while still prioritizing the long-term goal of transitioning towards renewable energy sources such as solar power. This multifaceted approach demonstrates the government's immediate response to current energy challenges while balancing ecological considerations.