SK: Experts Paint Gloomy Economic Picture for 2007

Economists paint a gloomy picture of the Korean economy in 2007.

The Hyundai Research Institute said higher oil prices will put a bigger burden in the Korean economy, citing an increase in oil demand among the BRIC states — Brazil, Russia, India and China– political instability in the Middle East and an oil supply reduction by Organization of Petroleum Exporting Countries. It said a third oil shock is possible if oil prices go up to $85 per barrel.
Chosun Ilbo