The import price index retreated 4.1 percent in November from a month earlier, turning downward for the first time since June, according to the Bank of Korea (BOK).
Dubai crude, South Korea's benchmark, averaged 83.55 U.S. dollars per barrel in November, down 6.9 percent from the previous month.
The average won/dollar exchange rate declined to 1,310.39 won per dollar in November from 1,350.69 won in the prior month.
Price for imported raw materials dived 6.6 percent in November after rising 0.2 percent in October.
Import price for intermediary goods, including oil products, slipped 3.1 percent in November on a monthly basis.
Price for imported capital and consumer goods went down 2.2 percent and 1.9 percent each.
The export price index dropped 3.2 percent in November on a monthly basis, logging the first slide in five months.
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