South Korea raises fuel caps and expands tax breaks
South Korea will raise fuel price caps and expand tax breaks on Friday to counter Middle East conflict impacts. The state also plans a bond buyback program.
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South Korea will implement a series of emergency measures, including raising the fuel price cap and expanding tax breaks, to protect consumers from the economic volatility caused by the conflict between the United States, Israel, and Iran. Effective Friday at midnight, the government aims to stabilize a domestic economy rattled by the prolonged Middle East war, which has entered its fourth week.
