South Korea is preparing to intensify its efforts to contain rising consumer prices, citing renewed geopolitical tensions in the Middle East as a key driver of inflationary pressure.
The government announced it will unveil detailed measures aimed at addressing unfair market practices and stabilizing costs for households and businesses.
The move comes as global markets continue to price in the risk of supply disruptions from the Middle East.
Earlier reports indicated that escalating tensions were already translating into higher fuel prices for consumers in other regions, including India, while the OECD warned that energy inflation was resurging in the UK economy.
South Korea’s intervention signals a proactive stance to shield its domestic economy from these external shocks.
By targeting unfair market practices, Seoul aims to prevent companies from passing on excessive costs to consumers during periods of volatility.