S. Korea to apply zero tariffs on LNG, LPG under quota scheme to tackle inflation

South Korea plans to apply zero tariff rates on liquefied natural gas and liquefied petroleum gas within quotas in the second half of 2026 as the country seeks to tame inflation amid lingering global energy price volatility, the finance ministry said Thursday. The Ministry of Finance and Economy said tariff rates on LNG, LPG and crude oil used for the production of LPG will be lowered to zero in the second half, noting the measure is expected to help stabilize consumer prices by lowering utility

By The Korea Herald