SOUTH KOREA
From Times Staff and Wire Reports
Seoul to Deregulate Petroleum Prices: The country said it will phase out the regulations and take other measures soon to lift controls over the petroleum industry. The Ministry of Trade, Industry and Energy said companies will be able to set prices as soon as the second half of next year. The petroleum import and export business, now open only to refiners, will soon be open to other companies, including foreign ones, the ministry said.
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