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Business

S Korean consumers to suffer from price hikes next year
Dec 26, 2008 04:00
South Korean consumers are likely to suffer from price hikes amid shrinking disposable income next year, Korea Herald reported Friday. The Finance Ministry said gasoline, diesel and LPG prices will rise as the temporary 10 percent tax cut on fuel is to expire on Dec. 31. In addition, due to the Finance Ministry's decision to reduce the number of import items that get customs, the tariff rate for oil imports will rise from the current 1 percent to 2 percent in February, and to 3 p ...


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