Korea Joongang Daily
Korea JoongAng Daily

Producer prices post fastest rise in 4 years in March on oil cost surge: BOK

Korea's producer prices rose at the fastest pace in about four years in March, driven by higher petroleum and chemical product prices amid rising global oil costs, data from the Bank of Korea showed Wednesday.

2026-04-22

Shin Hyun-song’s playbook: How new BOK chief diverges from his predecessor

Shin Hyun-song’s arrival as governor of the Bank of Korea (BOK) is poised to reshape Korea's monetary policy direction, with investors watching for a shift away from easing and a reassessment of the forces driving the won’s weakness.

2026-04-21

Surge in renovation and housing costs dissuades people from moving

The surging costs associated with moving — which includes renovation, logistics and securing a lease — are discouraging mobility even during the traditional spring moving season.

2026-04-16

Gov't to cover extra costs for importing alternative crude supplies

The government will cover additional shipping costs crude importers have to bear when bringing in alternative supplies from regions other than the Middle East, the Ministry of Trade, Industry and Resources said Wednesday.

2026-04-15

IMF maintains Korea's growth outlook despite Iran war, rising inflation risks

Korea’s growth outlook held steady despite the Iran war, but inflation risks surged as the International Monetary Fund (IMF) raised its price forecast and warned of mounting global uncertainty.

2026-04-15

Rising costs encourage more people to stay home, change consumption patterns

The uncertain future of the Iran war is pushing oil prices up and keeping people indoors at home and away from their cars, even with the nicer, sunnier spring weather.

2026-04-13

Inflation builds momentum as Middle East conflict drives up gas and goods prices

Inflation is showing increasingly unstable momentum. Prices, which had been gradually rising since the second half of last year amid weakening won, surged after the outbreak of the Middle East conflict in late February.

2026-04-11

U.S. consumer prices soar in March on wartime fuel cost surge

U.S. consumer prices increased by the most in nearly four years in March as the war with Iran led to a record surge in the cost of gasoline and diesel.

2026-04-11

BOK flags stagflation risk in worst-case Iran war scenario

The Bank of Korea (BOK) said that a worst-case escalation of tensions in the Middle East could tip the economy into stagflation and held the benchmark interest rate steady for a seventh straight meeting.

2026-04-10

State-run think tank assesses that Iran war will spur economic risks, inflationary pressure

Downside risks to the Korean economy are increasing amid the prolonged conflict in the Middle East, as rising global oil prices and supply chain disruptions could have broader negative impacts on prices, consumption and exports.

2026-04-07