President Lee Jae-myung returned to South Korea on the 4th after completing a four-day diplomatic trip to Singapore and the Philippines.
The president arrived at Seoul Airport aboard Air Force One at approximately 10 p.m. Despite the late return, he is scheduled to convene an emergency cabinet meeting on the morning of the 5th to assess the fallout from the Middle East crisis.
The Ministry of Finance and Economy and the Ministry of Foreign Affairs are expected to brief the cabinet and discuss countermeasures at the meeting. Discussions are anticipated to cover energy supply including crude oil and liquefied natural gas (LNG), measures to minimize the war's impact on the Korean economy, and plans to ensure the safety of Korean nationals in the region.
Particular attention is being paid to whether stock market stabilization measures will also be discussed, as the KOSPI has plunged for two consecutive days amid the war's shock. The president reportedly received regular situation briefings from National Security Advisor Wi Sung-lac throughout his trip.
While focusing on managing diplomatic issues, President Lee also plans to work toward translating discussions with foreign leaders during this trip into tangible outcomes.
Additionally, the president is expected to address pressing domestic matters, including follow-up measures for the three judicial reform bills passed by the National Assembly, stabilizing housing prices in the Seoul metropolitan area, and administrative integration of metropolitan local governments.