April 26, 2024

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[THE INVESTOR] South Korea's export prices fell 1.6 percent in February from a month earlier due mainly to the strengthening won, the Bank of Korea said on March 14. 

The dollar fell 3.4 percent to 1,144.92 won in February compared to a month earlier. 

Meanwhile, on-year export and import prices jumped on the back of rising oil prices. Export prices rose 4.9 percent while import prices jumped 9.1 percent during the same period. 

The price of Dubai crude, South Korea's benchmark, rose to an average of US$54.39 in February from US$28.87  a year earlier. 

The country's exports jumped 20 percent in February to US$43.2 billion, marking the fastest rise in the five years on rising oil prices and imporving global demand. 

(theinvestor@heraldcorp.com)