Rising geopolitical tensions in the Middle East are pushing global oil prices and the Korean won–U.S. dollar exchange rate sharply higher, raising concerns that the Korean economy could face growing stagflation risks. Brent crude has climbed above $100 per barrel, while the won is approaching the psychologically significant 1,500-per-dollar level. Economists warn that the surge in oil prices could fuel inflation and deliver a significant shock to the domestic economy. [...]