Korea braces for higher oil prices

Bank of Korea, Seoul

Bank of Korea governor Kim Choongsoo last week held an economic review, during which the threat of rising oil prices was discussed.

Minutes from the meeting show heads of major institutions and academics met with the governor at the central bank to air their opinions on the economic problems facing the country.

Those present said the recent rise in international oil prices was attributable mainly to the political unrest in the Middle East. One attendee pointed out that while current prices were

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