Choi Kyung Mi and Alex Jensen discuss economic pressure the Korean government is facing due to the external pressures associated with the Ukrainian invasion and its global repercussions.
The Korean government and the Bank of Korea are now facing sustained economic pressure associated with rising fuels prices and associated other inflationary pressures. Recent price rises although having been led by fuel prices are not restricted to the energy sector. Prices in Korea are moving to retail prices, with meat, fish and other daily necessities also rising above background rates.
People in Korea are awaiting not only the present government’s response, but also the incoming government, to be headed by Yoon Seok Yeol’s action plan for when he becomes president in May.