Electricity Regulatory Commission
KOREC
The Electricity Regulatory Commission is a government body that deliberates on fair competition and consumer protection in the power sector and adjudicates disputes between electricity businesses.
Under the Electric Utility Act it sits within the Ministry of Climate, Energy and Environment. The minister must hear its deliberation before licensing an electricity business or approving KEPCO's supply terms (tariffs).
How to read it: the commission deliberates; the minister licenses and approves. When news says a tariff rise is 'final', check which stage it means.