Finance chief vows all-out efforts to fight inflation (opens original article in a new tab)

South Korea's finance chief pledged to use all available tools to fight inflation, citing rising energy prices and unusual weather as contributing factors, as consumer prices hit a 26-month high.

• Finance Minister Koo Yun-cheol stated the government will use all available tools, including taxes and fiscal measures, to combat inflation.
• Rising energy prices due to the Middle East war and unusual weather are contributing to inflation.
• Consumer prices in South Korea increased 3.1% in May 2026, the fastest growth in 26 months.