Impact of Middle East Crisis... Import Prices Soar 16.1% in March [1-Minute Brief]

[At a Glance]

① [Market] Import Prices Soared 16.1% in March Compared to Previous Month... Direct Impact from Middle East War

② [Commodities] Government and Industry Manage Supply... Naphtha Production Shutdown Crisis Averted

③ [Defense] Top Naval Commanders from Korea, the US, and Japan Gather... Focus on Hormuz Discussions

MARKET INDEX : Year to date

TOP 3 NEWS

■ "Middle East War Direct Hit" Import Prices Jumped 16.1%... Highest Growth Rate in 28 Years

○ In March, import prices in Korean won rose by 16.1% compared to the previous month

○ The growth rate is the highest since January 1998 (17.8%)

○ Crude oil import prices based on contract currency surged by 83.8% 

■ ‘Ready-Mix Concrete Shutdown’ Crisis Averted Through Naphtha Supply Management

○ Lotte Chemical prioritized domestic supply of VPEG

○ The shutdown crisis in the ready-mix concrete industry has been resolved for now

○ “Mid- to long-term measures such as diversifying import sources are needed” 

■ Korea-US-Japan Naval Commanders Gather... Focus on Hormuz Discussions

○ Top naval commanders from Korea, the US, and Japan held a brief meeting in Seoul

○ Attention on whether the issue of troop deployment to the strait will be addressed

○ Admiral Kim Kyungryul, Chief of Naval Operations, also held bilateral talks with the US and Japan

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