South Korea Plans Emergency Budget to Address Rising Oil Prices.

South Korea has announced a large emergency budget proposal aimed at protecting its economy from rising global oil prices. The government plans to spend billions of dollars to support businesses, stabilize fuel costs, and help low-income households. Officials say the country is especially vulnerable because it relies heavily on imported energy, much of it coming from the Middle East. The new budget includes financial aid for companies affected by higher costs and consumer vouchers for citizens. Leaders hope the plan will reduce the impact of inflation and keep the economy stable during a period of global uncertainty.

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