Korea's import prices surge in October driven by rising oil prices, weak won

Korea's import prices rose by the largest margin in six months in October due to rising global oil prices and the weak Korean currency, central bank data showed Tuesday.

2024-11-13

유가, 요즘 왜 오르나

Oil prices have climbed in recent weeks, spurred by concerns over supplies and geopolitical risks, including wars in Ukraine and the Middle East. Analysts say the momentum could carry prices higher.

2024-04-15

BOK signals longer restrictive stance amid high inflation and oil prices

The Bank of Korea maintained its interest rate at 3.5 percent amid uncertainties about inflation and global oil prices. A rate cut could be possible starting in July.

2024-04-12

[THINK ENGLISH] 올리브 오일, 왜 지금 이렇게 비싸졌나

There is something different lately about the olive oil Michelle Spangler buys, bottles and infuses with flavors such as basil and blood orange for her store in Dallas. It’s not the taste but the cost: Global olive oil prices have soared to record...

2023-11-02

Biting the bullet

Gas prices are displayed at a gas station in downtown Seoul on Wednesday. Brent crude oil prices traded at $94.34 per barrel Tuesday to hit a 10-month high, according to the Korea National Oil Corporation's price tracking system Opinet.

2023-09-20

Producer prices surge as global oil prices rise

Korea’s producer price index rose at its steepest pace in 16 months on a rise in global oil prices, according to the Bank of Korea on Wednesday.

2023-09-20

Korean consumer prices grow 3.7% in April

Korea’s consumer prices jumped 3.7 percent on year in April, rising at the slowest pace in more than a year.

2023-05-02

Korea reports 4.2 percent inflation in March, a one-year low

Consumer prices rose 4.2 percent year-on-year in March, according to Statistics Korea Tuesday, down from the 4.8 percent increase reported in February and the lowest since the 4.1 percent year-on-year increase in March 2022.

2023-04-04

Korea reports fourth consecutive monthly trade deficit

A trade deficit of $4.7 billion was recorded in July as high oil prices and a weak won pushed imports up to a monthly record despite strong exports. It was the fourth monthly trade deficit in a row, the first time that has happened in 14 years.

2022-08-01

Airline, duty-free industries faring poorly amid high exchange rates

Airline and duty-free industries were expected to bounce back as the pandemic waned, but are instead being ambushed by high exchange rates and faring poorly. The closing price of the won-dollar exchange rate exceeded 1,300 won for the first time...

2022-06-27

korea joongAng daily