Low Oil Prices Archives | Be Korea-savvy

Low Oil Prices Lead to Lifestyle Changes

SEJONG, Jan.18 (Korea Bizwire) – With oil prices reaching all-time lows, the daily habits of Koreans are changing. The number of people traveling abroad or buying large vehicles such as SUVs is increasing. People are also choosing to drive to work instead of taking public transportation. The number of people enjoying overseas travel is increasing. [...]

Low Oil Prices a Boon for Korean Businesses

SEOUL, Jan. 30 (Korea Bizwire) — Six out of ten Korean businesses expected that currently low oil prices would produce positive effects, such as reduced production costs and sales increases. By industry, the automobile and textile industries showed high expectations, but the shipbuilding, E&C and petrochemical sectors expected losses to result from the low price of oil. [...]