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Won hits fresh over 13-year low per U.S. dollar on tightening woes

The South Korean currency on Monday hit a fresh over 13-year low against the U.S. dollar amid growing concerns that the Federal Reserve's aggressive monetary tightening could tip the U.S. economy into a recession. The local currency ended at 1,431.30 ... Read More

Major firms urged to join energy-saving efforts

SEOUL, Sept. 26 (Yonhap) -- Industry Minister Lee Chang-yang asked major companies Monday to join efforts to reduce energy consumption this winter to cope with soaring energy costs. Lee made the request during a meeting with CEOs of 10 major ... Read More

Import prices decline for 2nd straight month in Aug. amid falling oil prices

South Korea's import prices declined for the second straight month in August as global oil prices fell amid concerns about global economic slowdown, central bank data showed Friday. The import price index fell 0.9 percent in August from a month ... Read More

S. Korea’s trade terms down for 14th straight month in May

South Korea's terms of trade worsened for the 14th straight month in May due to fast-rising import prices of oil and other key commodities, central bank data showed Wednesday. The nation's net terms-of-trade index for goods -- a gauge of ... Read More

S. Korea to boost monitoring of palm oil supplies over Indonesia’s exports ban

South Korea vowed Monday to strengthen the monitoring of palm oil supplies following Indonesia's recent ban of its exports amid the continued crisis surrounding Ukraine. Indonesia, the world's biggest palm oil producer, announced the ban on palm oil exports on ... Read More

LNG prices to further rise on surging global prices

Prices of liquefied natural gas (LNG) in South Korea will increase more than 8 percent in May amid rising global energy prices, the industry ministry said Friday. LNG rates for households and commercial users will go up between 8.4 percent ... Read More

South Korea’s carbon neutrality law takes effect

South Korea’s carbon neutrality law takes effect today. Under the Carbon Neutrality Act, South Korea aims to cut its greenhouse emissions by 40% of its 2018 levels by 2030. This is an increase from the 35% agreed to last year. ... Read More

S. Korea remains wary of negative economic fallout of Ukraine crisis

South Korea said Wednesday the Ukraine crisis has had limited impacts on the domestic economy, but it will remain vigilant against the possibility that a deterioration of the situation could disrupt energy supplies and increase market volatility. Tensions over Ukraine ... Read More