Seoul: President Lee Jae Myung on Tuesday urged nations involved in the war in the Middle East to take a courageous step toward peace, with a fragile ceasefire deal between the United States and Iran hanging in the balance and threatening the global economy. Speaking at a Cabinet meeting, Lee asked "the warring parties to take a courageous step toward peace that the world desperately wants based on the principles of the protection of universal human rights and lessons from history."
According to Yonhap News Agency, with the war in the Middle East entering its seventh week, Lee also called on the government to explore alternative supply chains and pursue structural reforms to address vulnerabilities exposed by uncertainties stemming from the ongoing war. "I want initiatives, such as exploring alternative supply chains, pursuing mid- to long-term industrial restructuring and realizing a plastic-free economy, to be promoted as key national projects," Lee said. With uncertainties surrounding the Middle East conflict persisting, Lee instructed the government to maintain the current emergency posture to brace for volatility in global energy markets and supply chains.
"For the time being, we must assume that global supply chains for energy and raw materials will face disruptions and that high oil prices will persist," he said. "Considering this as a constant factor, we must further solidify the current emergency response system."
Lee also called for the swift implementation of a 26.2 trillion-won (US$17.7 billion) supplementary budget aimed at supporting those affected by the war, stressing the urgency of distributing funds to support people's livelihoods. Beginning April 27, approximately 35.8 million people will receive between 100,000 won and 600,000 won per person under the budget, depending on income level and region.