The country's import and export prices both rose for the third straight month in March on rising oil prices.

According to data from the Bank of Korea(BOK) on Tuesday, the country's export price index marked 120-point-89 in March, rising zero-point-four percent from a month earlier to continue its upward trend for the third consecutive month.

The BOK attributed the rise to an increase in the export prices of industrial products amid a one-tenth of a percentage point rise in the Korean currency against the U.S. dollar in March. 

The import price index also rose zero-point-four percent month-on-month to hit 137-point-85 in March as it, too, climbed for the third consecutive month.

The increase is mainly due to an increase in oil prices, with the price of Dubai Crude, South Korea's benchmark, rising four-point-one percent month-on-month to 84 dollars 18 cents per barrel in March.