U.S.-Iran deal offers relief to S. Korean economy, but lower energy prices may take time

“A ceasefire agreement between the United States and Iran and plans to reopen the Strait of Hormuz have eased one of the biggest external risks facing South Korea's economy, but oil prices could take time to stabilize and return to pre-war levels, experts said Monday. US President Donald Trump announced Sunday that Washington and Tehran have reached a peace deal aimed at ending their monthslong conflict, saying that the strategically vital Strait of Hormuz will reopen once the agreement is formal

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