President Lee Jae Myung will preside over an emergency meeting with related ministries on Monday to review the economic impact from heightened tensions in the Middle East and discuss response measures, Cheong Wa Dae said Sunday. The meeting will focus on global financial markets and oil prices. South Korea, heavily reliant on energy imports, is particularly vulnerable to external price shocks.
President Lee Jae Myung will preside over an emergency economic meeting with ministers from related ministries on Monday, following an announcement from Cheong Wa Dae on Sunday, March 8, 2026. The gathering aims to assess the economic repercussions of escalating tensions in the Middle East and deliberate on countermeasures. Presidential spokesperson Kang Yu-jung stated that participants will include senior officials from the finance, industry, climate and energy, budget planning, and agriculture ministries, as well as the Korea Customs Service and the Fair Trade Commission.
During the meeting, Lee is expected to examine global financial markets and oil prices, evaluating their effects on the domestic stock market, foreign exchange market, and inflation. This follows an extraordinary Cabinet meeting on Thursday, where Lee reviewed the latest Middle East developments after U.S.-Israeli strikes on Iran and Tehran's retaliatory attacks in the region.
South Korea's heavy reliance on energy imports makes it especially susceptible to external price shocks, which can drive inflation. Both sources confirm these details without contradictions.
