Import prices in won terms rose 9.3 percent in April year-on-year after increasing 6.8 percent in March, the Bank of Korea said in a statement.

The BOK attributed the sharp jump to an increase in global oil prices and a 34.0 percent jump in import prices of raw materials.

Export prices, also in won terms, increased 8.7 percent on a yearly basis, after a 5.0 percent rise in March.