President Lee Jae-myung will chair an emergency economic meeting to assess the impact of Middle East instability on the economy and prices.
Presidential spokesperson Kang Yu-jeong announced on the 8th that "President Lee will preside over an emergency economic review meeting at 11 a.m. on the 9th to examine economic and price conditions related to the Middle East situation."
The meeting will be attended by relevant government agencies including the Ministry of Finance and Economy, Ministry of Trade, Industry and Energy, Ministry of Climate and Energy, Office of Planning and Budget, Ministry of Agriculture and Forestry, Fair Trade Commission, and National Tax Service.
The meeting is expected to review potential fluctuations in international oil and raw material prices amid rising tensions in the Middle East region, assess domestic impacts on prices and industry, and discuss response measures.
President Lee previously convened a temporary cabinet meeting on the 5th, immediately after returning from state visits to Singapore and the Philippines, to review response measures related to the Middle East situation from relevant ministries.