Yoon’s Office Evaluates Economic Impact of Israel’s Strike on Iran and Safety Measures for South Koreans in Middle East

SEOUL: South Korea's presidential office convened on Sunday to assess the economic repercussions of Israel's recent military action against Iran and to devise strategies for safeguarding and evacuating South Korean nationals in the Middle East, should an emergency arise. According to Yonhap News Agency, the Israeli military conducted strikes early Saturday on various targets within Iran, including missile manufacturing facilities. This action was in response to an earlier missile attack by Iran, as reported by foreign media. Despite the potential for regional instability, President Yoon Suk Yeol's office indicated that the impact of these geopolitical tensions on South Korea's economy appears to be limited. The office remains vigilant, prepared to implement necessary measures as the situation evolves. "As Israel staged an attack on Iran over the weekend, it has yet to affect the South Korean financial markets. But we will closely monitor the attack's impact on the financial markets and oil prices, and proa ctively take action," stated the presidential office. Although South Korea currently does not import crude oil from Iran, the government is contemplating an additional fuel tax cut should oil prices exhibit significant volatility. In a parallel development, Seoul's foreign ministry voiced "deep concern" regarding the Israeli strikes on Iran. Ministry spokesperson Lee Jae-woong emphasized the importance of diplomacy, urging all involved parties to avoid the "cycle of attack and retaliation" and to pursue a diplomatic resolution to the escalating tensions.