Korean import prices rise 0.4% in February

Korean import prices rise 0.4% in February

The 0.4% month-on-month rise in Korea's import prices for February 2005 places a greater cost burden on small and medium sized enterprises, the Bank of Korea (BoK) said. Even though Korea's Won has risen sharply against the US Dollar as of late, import prices continued to go up due to surging prices of oil and other raw materials. BoK indicates that steady rises in import prices contributed inflation to increase and slowdown in the profitability of small businesses.