Seoul [South Korea], September 18: South Korea's Finance Minister Koo Yun-cheol on Friday vowed to make diplomatic efforts and diversify import sources to address recent energy price volatility amid geopolitical uncertainties in the Middle East.
Yun-cheol made the remarks during a meeting of economy-related ministers in the central city of Sejong, pointing out that global oil prices have recently risen sharply amid geopolitical tensions, Yonhap News Agency reported.
"The government intends to remain vigilant and maintain an emergency response system to stably manage the supply of energy sources and their prices," Koo said during the meeting.
During the meeting, the government said the country will extend its fuel tax cut scheme by another two months through November to ease price burdens on the public amid protracted tensions in the Middle East.
Source: Emirates News Agency
