[URGENT] Knowledge economy minister says he is ready to resign

Knowledge Economy Minister Choi Joong-kyung on Sunday said he will take full responsibility over the recent nationwide blackouts that inconvenienced many businesses and private citizens.

In a news conference, Choi said he did not plan to cling to his post, hinting that he may step down, for the power failure that was caused by the sudden surge in demand for electricity during unseasonably high temperatures.

"I take all responsibility for the incident as the minister in charge of the country's energy policies," he said, adding that every effort will be made to prevent a recurrence of such an unprecedented disruption to the country's power supply.

The blackouts were compounded because many of the country's power plants, including some of its nuclear reactors, were offline for regular maintenance.

Power outages were reported in Seoul and neighboring regions, with an estimated 1.62 million households across the country experiencing temporary blackouts on Thursday. The blackouts took place as the country's electricity reserve fell to as low as 6 percent of overall demand, far below the 7 percent rate that is considered the minimum safety margin.

The official also said that the ministry would start taking reports of damage caused by the blackouts on Tuesday so compensation could be made. (Yonhap News)