South Korea to Cut Taxes on LNG, Boost Duties on Coal From April

The South Korean cabinet passed a measure to lower taxes on liquefied natural gas and boost duties on coal that will be effective from April 1 as it works to reduce pollution, according to a statement from the Ministry of Trade, Industry and Energy.

• Import taxes on liquefied natural gas (LNG) for power generation will be cut to 3.8 won/kg from 24.2 won/kg; consumption duties to be lowered to 12 won/kg from 60 won/kg For LNG that’s used for cogeneration plants, 3.8 won/kg tax will be reimbursed to importers.
• Consumption duties on bituminous coal will rise to 46 won/kg from ...