Oil prices push South Korea's import costs higher again

South Korea's import prices rose in September, ending a recent decline. The turnaround was driven by higher oil prices. Import prices climbed after falling in previous months. The cost of crude oil, a key driver of import costs, increased during the month. The rebound signals renewed pressure on the country's trade costs. South Korea relies heavily on imports for energy and raw materials. Higher import prices can feed into consumer inflation over time.