Koo Yun-cheol Says South Korea Moving Quickly on Prices, Supplies and Subsidies as Middle East War Drags On
Summary
- Deputy Prime Minister Koo Yun-cheol said the government is swiftly pursuing policies on prices, supplies, subsidies and international cooperation in response to the prolonged Middle East war.
- The government said Asian countries with high dependence on the Middle East are implementing energy price and supply stabilization measures, including caps on fuel prices.
- Koo said the government will closely monitor developments in major countries and refine its response as needed.
Forecast Trend Report by Period
Koo Yun-cheol, South Korea’s deputy prime minister and finance minister, said April 13 that the government is swiftly pushing a range of measures on prices, supplies, subsidies and international cooperation in response to the prolonged war in the Middle East.
Koo made the remarks while chairing a meeting of economy-related ministers at the Government Complex Seoul. Rising geopolitical tensions in the Middle East are further widening external uncertainty, he said.
A government review of major countries’ responses to the war found that Asian nations with high dependence on the Middle East are implementing aggressive policies to stabilize energy prices and supplies, including caps on fuel prices.
He added that the government will continue to closely monitor developments in major economies and refine its response where needed.
The US and Iran held 21 hours of ceasefire talks in Islamabad, the capital of mediator Pakistan, but the negotiations ultimately broke down.
Han Kyung-woo, Hankyung.com reporter, case@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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