Prime Minister Kim Min-seok announced on March 25 that two emergency economic teams will launch at Cheong Wa Dae and his office to address the Middle East crisis. The move responds to the widening impact of the ongoing war involving the United States, Israel and Iran. He stressed the need to bolster the government's preemptive response for prolonged scenarios, including worst-case ones.
Prime Minister Kim Min-seok said Wednesday at a briefing in Seoul's government complex that an emergency economic situation room will be created at Cheong Wa Dae, while an emergency economic headquarters will be set up under his office. The announcement, reported by The Korea Times and Yonhap News Agency, addresses the widening economic impact of the ongoing war involving the United States, Israel and Iran. “It is time now to step up the government's preemptive response system to prepare against a prolonged situation, including worst-case scenarios,” Kim said. The teams aim to coordinate the government's overall economic countermeasures amid fears of an extended crisis in the Middle East. No further details on the teams' composition or specific measures were provided in the briefing.
