Seoul:<Text>

South Korea's business sentiment remains pessimistic for May due to the prolonged Middle East crisis, a survey showed Thursday. The business survey index (BSI) of the country's top 600 companies by sales stood at 87.5 for next month, reflecting a continued sense of caution among businesses.

According to Yonhap News Agency, the monthly poll conducted by the Federation of Korean Industries (FKI) highlighted that the index remained below the benchmark of 100 for two consecutive months, indicating that pessimists outnumber optimists. A reading below 100 suggests a negative outlook, while a figure above the benchmark indicates a more positive business sentiment.

The survey revealed that the BSI outlook for the manufacturing sector stood at 86.5 for May. Within this sector, the oil refinery and chemical industry reported a reading of 89.7, while the automotive and transportation equipment sector posted a more cautious figure of 82.8. Meanwhile, the BSI outlook for the non-manufacturing sector came to 88.4.

The FKI attributed the pessimistic sentiment to hikes in crude oil prices and shipping costs, which have placed a burden on businesses. Lee Sang-ho, head of the FKI's economic division, emphasized the need for government intervention to mitigate these challenges. "To prevent external shocks from eroding the competitiveness of Korean companies, the government should support price stability for petroleum products, including naphtha and oil and gas, while swiftly preparing supplementary measures to minimize disruptions in raw material supplies and production," Lee stated.