President Yoon Suk Yeol has pledged to moderate gas and electricity rate hikes as he seeks to minimize the public’s burden amid inflation and high interest rates.

Presiding over an emergency economic and livelihood meeting on Wednesday, Yoon said his administration will prioritize the people’s livelihoods in all policies and expand state support for vulnerable groups.

The president said utility charges managed by the central government, such as those covering public roads, transit systems and the postal service, will be frozen during the first half of the year, and urged municipal governments to seek ways to stabilize their public utility fees as well.

Yoon also called on the telecommunications and financial sectors benefiting from quasi-public oligopolies to voluntarily seek ways to share the burden imposed by inflation.

In admonishing policy based on ideology or populism for inflicting hardships on the public, the president seemingly criticized the preceding Moon Jae-in administration as he urged officials to handle state affairs and implement policies based on science that focus on the people.