South Korea announced it will eliminate tariffs on liquefied natural gas (LNG) and liquefied petroleum gas (LPG) imports, effective in the second half of 2026, but within specified quota limits. This decision aims to mitigate rising inflation driven by fluctuating global energy prices. The tariff reduction is a strategic move to stabilize energy costs for consumers and businesses. The government anticipates this measure will provide economic relief during a period of ongoing energy market instability. While the exact quota details were not disclosed, the policy signals a commitment to buffering the domestic economy from external price shocks. This action follows concerns about sustained high energy costs impacting the nation’s economic outlook.