Korean Insurers Step Up Power-Saving Measures Amid Middle East-Linked Energy Uncertainty

Image illustrating a five-day vehicle restriction system. [Photo=Yonhap]

The insurance industry has moved into companywide conservation mode as energy supply uncertainty tied to the Middle East persists. Measures described as emergency steps are spreading across the sector, from limits on vehicle use to tighter controls on office electricity consumption.

The Korea Life Insurance Association and the General Insurance Association of Korea said on the 23rd that insurers are actively joining energy-saving efforts in response to an energy crisis linked to the prolonged Middle East situation. The associations and insurers are pursuing voluntary reduction plans tailored to each workplace, in line with the government’s emergency energy response stance.

With a “alert” warning issued over resource security risks stemming from unstable crude oil supply, the industry is implementing a five-day vehicle restriction system alongside public institutions. Some insurers have expanded the policy to an even-odd system depending on conditions. Insurers are also encouraging public transit and using staggered work hours and remote work to spread out commuting demand.

Energy-saving steps inside offices are being tightened as well. Companies are turning off lights in shared areas outside working hours and emphasizing routine power cuts such as shutting down PCs when leaving for the day. They are also seeking to reduce waste by maintaining appropriate indoor temperatures and limiting unnecessary equipment operation to improve heating and cooling efficiency.

Additional measures include adjusting elevator operating hours and outdoor sign lighting times, and upgrading lighting efficiency. Some insurers are running internal power-saving campaigns to encourage employee participation.

* This article has been translated by AI.

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