Seoul: Prime Minister Kim Min-seok on Monday called on the government to take preemptive steps to be prepared against "every possible scenario" as the conflict widened in the Middle East following U.S.-Israeli attacks on Iran over the weekend. Kim presided over the second meeting of relevant Cabinet ministers in Seoul on Monday, amid rapidly escalating tensions in the Middle East following the death of Iran's Supreme Leader Ayatollah Ali Khamenei in a joint U.S.-Israeli strike.
According to Yonhap News Agency, Kim emphasized the swiftly changing situation in the Middle East and expressed hope for a swift resolution, though he acknowledged the difficulty in predicting the duration of the conflict. He highlighted concerns about volatility in financial markets and surging oil prices, which have already begun to manifest.
Kim urged the government to be ready to respond immediately to a protracted situation or unexpected incidents. He emphasized the importance of reviewing mid-term plans in addition to short-term responses. Vice Industry Minister Moon Shin-hak reassured that South Korea is prepared for further surges in oil prices, with a stockpile of 208 days' worth of crude oil and petroleum products.
Expressing concern for the safety of South Korean nationals stranded in the region due to flight disruptions, Kim demanded thorough plans for their evacuation if necessary. He also tasked the finance ministry with preparing measures to assist firms affected by the crisis, stressing the need to monitor foreign exchange and financial markets closely.
Kim called for calm and thorough action from relevant ministries to reassure the public, underscoring the importance of accurate and timely information for effective government response. He urged ministries to share relevant information in real time to ensure a unified response.