Longline fishing vessels, used to catch cutlassfish and other species, are docked at Seogwipo Port on Jeju Island on April 13, as the average price of diesel on the island climbed to 2,015 won per liter ($5.14 per gallon).
Korea aims to expand its FTA network with emerging markets, such as Latin America and Africa, in its latest effort to diversify supply chains, Finance Minister Koo Yun-cheol said Monday.
The Korean won weakened markedly against the dollar Monday as U.S. President Donald Trump ordered a blockade of all ships entering or leaving the Strait of Hormuz after high-stakes peace talks with Iran failed to make a breakthrough.
Korean stocks opened sharply lower on Monday, the first trading day since the talks between Washington and Tehran ended without any progress, and U.S. President Donald Trump announced a blockade of the Strait of Hormuz.
While U.S. President Donald Trump touts American crude as an alternative for allies facing Iran-linked supply disruptions, the idea can sound fanciful — nowhere more so than in Korea.
Korea will be able to manage crude oil supply for the time being without releasing government stockpiles, according to Industry Minister Kim Jung-kwan, who noted that supply remains relatively stable despite uncertainties stemming from the Iran war.
Korea's national debt is projected to approach 60 percent of its GDP by 2030, government data showed Sunday, with the pace of increase widely expected to accelerate amid slowing growth and growing fiscal burdens.
Retired and in his 70s, a man surnamed Kim lives in an apartment in Seoul, worth more than 1.5 billion won ($1 million). The value may have doubled since he bought it at 700 million won, but in no way has that translated to an affluent retirement.
The government will provide cash support to 70 percent of the population to offset the impact of rising living costs linked to the Middle East conflict. A range of 100,000 won and up to 600,000 won ($68 up to $405) will be provided per person.
Upward pressure on Seoul’s housing market is intensifying despite stricter tax measures. A decline in listings amid higher tax burdens is pushing up prices.
Korea JoongAng Daily Sitemap
