Tech boom vs oil crisis: Asia’s new economic reality is a warning for the world
- Posted on May 12, 2026
- By CNN
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- 1 min read
Tech boom vs oil crisis: Asia’s new economic reality is a warning for the world
In South Korea, which imports nearly all of its oil and gas, a global supply crunch has hit hard. Officials have advised energy conservation, cut growth forecasts and warned of fallout from high inflation and 17-year-lows in the value of its currency. Yet the nation’s largest companies are raking in record profits, and its stock market is hitting all-time highs.
