Water bills in Korea soar by the biggest level in 17 years in Feb.

[Image source: Gettyimagesbank]

Water fees in South Korea rose by the biggest level in 17 years in February as regional governments announced price hikes to cope with a rise in production cost.

According to data from Statistics Korea on Wednesday, the water price index, which measures the changes in the water price with a base set at 2020, reached 109.5 in February, up 4.6 percent from a year ago. It is the biggest on-month increase in 17 years since 6.1 percent gain in January 2006.

The gain in the index comes as local governments raised water rates to manage rising production costs.

The Seoul Metropolitan Government raised the water bills for households by 20.8 percent to 580 won ($0.44) per cubic meter from 480 won in January. The prices for public baths increased to 500 won from 440 won and those for regular use to 1,270 won from 1,150 won.

The Daegu Metropolitan Government also increased household water prices by 8.6 percent to 630 won per cubic meter from 580 won per won in January. Seongnam City in Gyeonggi Province also raised prices by 18 percent.

Electricity, gas and water fees jumped 28.4 percent on year in February to a record high since Statistics Korea began compiling related data in 2010. Electricity and gas rates remained unchanged but water bills rose to have the rise surpass January’s 28.3 percent.

The prices of mineral water have also soared.

The price index of bottled water rose 7.1 percent on month to 109.24 in February, the steepest gain in nearly 12 years after 9.5 percent increase in July 2011.

The prices increased on rising labor and materials costs, such as those of polyethylene terephthalate (PET) bottles.

Jeju Province Development Co. raised the factory price of its popular bottled water product Jeju Samdasoo by an average of 9.8 percent in February. It was the first adjustment in five years.