South Korean Economy
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Middle East crisis escalates with Iran's new supreme leader; South Korea hit economically
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The Middle East conflict, triggered by U.S.-Israeli strikes on Iran, has intensified with Mojtaba Khamenei named as Iran's new supreme leader. Global oil prices have surged past $114 per barrel, pushing the South Korean won to a 17-year low against the U.S. dollar. The South Korean government is bolstering evacuation efforts and economic stabilization measures.