South Korea to Implement Measures for Price Stability Amid Middle East Crisis

South Korea's vice finance minister announced the government's plan to ensure consumer price stability, including an oil price cap, amid the Middle East crisis and rising global oil price volatility.

Hyung Il, Vice Minister of Finance in South Korea, said on Friday that the government will work to ensure consumer price stability through measures such as imposing a price cap on oil amid escalating crisis in the Middle East. He added during a policy meeting: "We must do our utmost to ensure the stability of prices for a large number of goods amid increasing fluctuations in global oil prices due to the current situation in the Middle East".

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