S. Korea to face volatile energy costs on Japan's quake: minister

16:44, March 23, 2011      

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South Korea is to face short-term volatility in energy costs on Japan's deadly earthquake, the finance minister said Wednesday.

"Japan's record-breaking earthquake is expected to disrupt supply and demand of major energy resources in the short term, leading to energy price fluctuations," Strategy and Finance Minister Yoon Jeung-hyun said at an economic policy coordination meeting.

His remarks came amid growing concerns that fears over radiation leakage in Japan's quake-stricken nuclear power plant added uncertainty to the global energy market along with the persistent unrest in the Middle East.

Regarding re-emerging worries about the safety of nuclear power, Yoon said South Korea should be cautious against a short-term approach on nuclear power.

He stressed that the government should take into account diverse aspects, including costs and benefits from construction of nuclear power stations, supply and demand outlook of energy and possible countermeasures to climate changes.

Source: Xinhua
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