SOUTH KOREA TO START CRUDE OIL SWAP WITH LOCAL REFINERS - YONHAP

KNOWLEDGE ATLAS TECHNOLOGY: TO CONTINUE INCREASING INVESTMENT IN DOMESTIC CHIPS, OPTIMIZATION OF SOFTWARE-HARDWARE INTEGRATION

South Korea announced a 26.2 trillion won ($17.3 billion) supplementary budget to cushion its economy from the impact of the Iran war, rising oil prices and global supply disruptions. The package allocates 10.1 trillion won to fuel cost relief including price caps, 2.8 trillion won for vulnerable households and labor support, and 2.6 trillion won for industries hit by higher logistics and energy costs, with additional funds for local governments and debt repayment. The stimulus will be largely funded by stronger-than-expected tax revenues, with fiscal deficit projected at 3.8% of GDP and debt ratio at 50.6%.