South Korea electricity prices

South Korea
Electricity prices
 Residential price 0.131
 Business price 0.115
 Measure USD / kWh
 Reference December 2023
 Data availability March 2019 - June 2024
 Data frequency Quarterly
South Korea, December 2023: The price of electricity for households is KRW 172.360 per kWh or USD 0.131 per kWh. The electricity price for businesses is KRW 151.898 kWh or USD 0.115 per kWh. This includes all components of the electricity bill such as the cost of power, distribution and taxes. For comparison, the average price of electricity in the world for that period is USD 0.156 per kWh for households and USD 0.153 per kWh for businesses.

We calculate several data points at various levels of electricity consumption for both households and businesses but on the chart we show only two data points. For households, the displayed number is calculated at the average annual level of household electricity consumption. For businesses, the displayed data point uses 1,000,000 kWh annual consumption.

The latest business and household electricity price data from June 2024 are available for download.
Electricity prices for households, December 2023
(kWh, U.S. Dollar)
0.002
0.006
0.006
0.006
0.006
0.008
0.013
0.014
0.015
0.015
0.015
0.017
0.019
0.020
0.023
0.023
0.026
0.027
0.029
0.032
0.040
0.043
0.046
0.047
0.047
0.047
0.048
0.048
0.049
0.050
0.052
0.053
0.053
0.055
0.058
0.062
0.065
0.065
0.067
0.072
0.073
0.075
0.075
0.076
0.078
0.080
0.083
0.087
0.089
0.090
0.090
0.093
0.094
0.096
0.096
0.101
0.107
0.108
0.111
0.112
0.112
0.115
0.116
0.119
0.120
0.121
0.121
0.123
0.125
0.126
0.127
0.131
0.131
0.137
0.142
0.143
0.143
0.145
0.145
0.148
0.151
0.154
0.154
0.156
0.156
0.162
0.162
0.170
0.173
0.173
0.174
0.175
0.175
0.176
0.181
0.182
0.188
0.192
0.195
0.196
0.197
0.197
0.198
0.202
0.203
0.204
0.209
0.212
0.216
0.217
0.217
0.225
0.226
0.230
0.232
0.232
0.234
0.238
0.239
0.245
0.249
0.253
0.267
0.269
0.274
0.274
0.279
0.280
0.281
0.292
0.296
0.298
0.311
0.314
0.319
0.335
0.336
0.339
0.381
0.393
0.398
0.400
0.406
0.413
0.424
0.452
0.474
0.520
0
0.1
0.3
0.4
0.52
Sources: Korea Electric Power Corporation (KEPCO), Korea Electricity Regulatory Commission
South Korea: Electricity price analytics
   Values
 Residential / World average price    83.72 %
 Residential / Asia average    161.79 %
 Business / World average price    74.60 %
 Business / Asia average    107.44 %
 Residential / Business price    113.47 %
 Low / High income households    63.06 %
 Small / Large businesses    106.99 %
Updated quarterly. Methodological notes
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