This looks like some deflation and some inflation at same time.
BN 11/27 Top Stories From Major Korean Morning Newspapers, Nov. 28
Seoul, Nov. 28 (Bloomberg) -- The following stories appeared in major
South Korean newspaper this morning:
Korea Employers to Cut Workers by As Much As 30% Next Year
The Korea Employers Federation, representing executives of the
nation's leading conglomerates, will cut as much as 30 percent of their
employees next year to deal with the slack economy. The federation will ask
the government early next month to change laws to make it easier for
employees to be laid off. (Seoul Economic Daily)
Oil Refinery Companies to Raise Gasoline Prices to 923 Won Per Liter
SK Corp., the nation's largest oil refinery company, and other four
oil refining companies, said they will raise gasoline prices by 81 won or
about 9.7 percent to 923 won per liter today to compensate for the higher
cost of imported crude oil from the won's weakening. Prices of kerosene and
diesel will also increase 83 won per liter, or 22 percent on average to 458
won and 457 won, respectively. The Trade, Industry and Energy said the
government has no plan to use the country's energy funds that it had set
aside to cushion impacts on soaring crude oil prices. The government is
expected to let gasoline prices exceed 1,000 won per liter in January next
year. (Chosun Ilbo) |
