Lee Doo-won, a senior official at the Data Ministry, announces consumer price index data for May during a press conference on June 2. [NEWS1]
Three months into the Iran war, higher oil prices have delivered different bills to economies around the world.
Korea and Japan face growing pressure to raise interest rates as growth and inflation accelerate together, while Taiwan still has room to keep rates unchanged despite a semiconductor boom, with inflation remaining relatively tame.
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Korea has fallen into what some economists describe as a growth paradox. While many households continue to feel financial strain, the country's growth and inflation are picking up on the back of a semiconductor-driven export boom and increasing pressure on the central bank to raise the key rate.
