Samarkand: Finance Minister Koo Yun-cheol announced that South Korea's stock market, represented by the Korea Composite Stock Price Index (KOSPI), has outperformed its pre-conflict levels amid ongoing tensions in the Middle East. This improvement is credited to strategic policy interventions.

According to Yonhap News Agency, the KOSPI achieved an unprecedented milestone, surpassing the 7,000 mark for the first time, driven largely by the performance of major technology stocks. Minister Koo, speaking in Samarkand, Uzbekistan, during a series of international meetings, remarked on the market's sensitivity but noted its better performance compared to the period before the conflict.

He attributed this resilience to the government's effective policy measures in response to the situation involving Iran. Koo further noted that both domestic and international observers recognize South Korea's superior handling of inflationary pressures linked to the Middle East crisis.

South Korea experienced a 2.6 percent increase in consumer prices in April compared to the previous year, largely due to elevated fuel costs associated with the conflict. The government implemented price stabilization strategies, including a fuel price cap and a temporary fuel tax cut, which collectively reduced overall inflation by 1.2 percentage points.

Despite these gains, Koo cautioned about potential economic risks as the conflict enters its third month. He emphasized the importance of vigilant monitoring and responsive measures to curb escalating diesel and gasoline prices resulting from increased crude oil costs, along with the accompanying inflationary pressures.