Korea’s gas prices surged and the stock market tumbled amid heightened geopolitical tensions in the Middle East.
Young Koreans are turning to gold investments as the asset's prices reach a record high.
South Korea's top spy agency is currently determining whether North Korean military technology was used in the ballistic missiles fired in Iran's attack on Israel last week.
The government must prepare measures from multiple angles to minimize the external shock spillover to the domestic economy.
Korea’s stock market retreated and the won reached its weakest point against the greenback in 17 months on Monday as tensions in the Middle East escalated following Iran’s recent strikes against Israel.
The government has extended the fuel tax cut to the end of June as oil prices fluctuate with escalating tension in the Middle East.
The South Korean government will bolster monitoring of foreign exchange rates and oil supply chains in the aftermath of Iran's attack on Israel on Saturday.
Seoul strongly condemned Iran's attack on Israel, which did not result in any Korean casualties, according to the Foreign Ministry.
Finance Minister Choo Kyung-ho said in a ministerial meeting on Monday that the government will extend the tax cut from the end of October to stabilize oil prices that could escalate inflation, especially for energy and food.
The Hamas militant group used North Korean rockets in its attack on Israel, according to evidence from battlegrounds in the country...
Korea JoongAng Daily Sitemap