[Photo] Soaring Oil Prices... Democratic Party Takes Measures

Kim Seong-hwan, Chairman of the Policy Committee of the Democratic Party of Korea, is attending the party floor strategy meeting held at the National Assembly on the 21st and delivering opening remarks. Photo by Yoon Dong-joo doso7@

Park Hong-geun, floor leader of the Democratic Party of Korea, is attending the floor strategy meeting held at the National Assembly on the 21st and delivering opening remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Yoon Dong-joo] Kim Seong-hwan, Chairman of the Policy Committee of the Democratic Party of Korea, attended the floor strategy meeting held at the National Assembly on the 21st and made remarks regarding the profits of domestic oil refiners. Chairman Kim stated that as oil prices hit record highs, oil refiners are expected to record their highest-ever operating profits.

Hanwha Investment & Securities forecasted that the era of high oil prices will continue for the time being, and from the second half of this year, domestic oil refiners will benefit more than those in the US and Europe.

The Democratic Party's Livelihood Priority Action Group plans to visit a self-service gas station in Yangcheon and the Korea Petroleum Association on the same day to prepare measures against the surge in oil prices.

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