Auto insurance products offering premium discounts to vehicles participating in the odd-even driving system, a measure to save energy amid the Middle East crisis, will be launched next month.
The ruling Democratic Party, the government and the Presidential Office discussed Middle East response measures, including these plans, at a high-level party-government-presidential office meeting held Tuesday at the Prime Minister's official residence in Samcheong-dong, Seoul, Democratic Party Chief Spokesperson Kang Jun-hyun said in a briefing.
"The non-life insurance industry will launch an odd-even driving rider product that discounts auto insurance premiums for vehicles participating in the odd-even driving system next month, providing benefits to citizens who voluntarily join energy-saving efforts," Kang said.
"We plan to expand participation in energy conservation by preparing measures to ease public transportation congestion within this month," he added. "We will also prepare measures to promote green consumption, including revitalizing tourism during the May holidays."
The party, government and Presidential Office also decided to determine whether to implement the fourth oil price ceiling system after comprehensively considering market impact, international oil prices and public burden.
At the meeting, the Democratic Party requested the government to actively respond to minimize the impact on naphtha and crude oil supply chains.
In response, the government decided to manage the smooth introduction of 273 million barrels of crude oil and 2.1 million tons of naphtha promised to the strategic economic cooperation special envoy delegation in Central Asia and the Middle East.
The government also decided to actively support the introduction of crude oil through Saudi Arabia's Yanbu Port, and to swiftly execute the 670 billion won naphtha import price differential support project reflected in this supplementary budget to back naphtha imports.
Of the 26.2 trillion won supplementary budget, the government has designated 25 trillion won as management targets, and plans to execute more than 85 percent of the 10.5 trillion won in projects requiring swift execution in the first half of the year.
The party, government and Presidential Office decided to continue efforts to secure necessary supplies while considering the rapidly changing Middle East situation and industry demand to stabilize domestic energy and key raw material supplies.
They also decided to strengthen on-site inspections to ensure that measures currently being pursued for the stabilization of supply chains for naphtha, urea solution and syringes operate effectively.
