(EnergyAsia, July 26) — South Korea’s economy is hurting from rising oil prices, making the country’s 4% growth target for 2005 increasingly difficult to achieve, the Korea Herald reported. The Bank of Korea said that a rise of 1% in international oil prices means a 0.02% drop in Korea’s gross domestic product (GDP). With…
SOUTH KOREA: Soaring oil prices squeeze economy
Posted on July 26, 2005 by EnergyAsia