Energy

South Korea on supply chains, oil prices amid Russia-Ukraine crisis

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South Korea is monitoring the Russia-Ukraine crisis closely to assess its impact on energy prices, or possible disruptions to supply chains, its trade minister told CNBC.

“I think first, we are closely monitoring a spike in the energy prices,” Yeo Han-koo said, adding that as much as 92% of South Korea’s needs are being met by energy imports.

“Some of these supply chains in [the] manufacturing sector could be also exposed to these potential geopolitical risks,” he told CNBC’s Chery Kang. “So we are taking all these policy measures to meet this potential risk.”

Tensions between Russia and Ukraine have spiked in recent months as Russia built up troops along its border with Ukraine.

A senior…



Source cnbc.com

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