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BRENT 63.84

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0

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11

South Korea Backs Off

The South Korean government has decided not to use...

The South Korean government has decided not to use short term contingency plans to deal with rising energy prices, Finance Minister Lee Hun-jai announced today.

Speaking to reporters at the Gwacheon Government Complex, the country's top economic policymaker reiterated that energy prices should fall off going into the second quarter but said that if this does not occur, policies to cope with this are being devised.

He added that instead of coming up with general policies, efforts will be made to focus on cutting energy in specific companies and industries.