South Korea's parliament to hold emergency session on Iran conflict

South Korea's National Assembly foreign affairs committee will hold an emergency session this Friday to discuss the impacts of U.S. and Israeli strikes on Iran. The session follows attacks that began Saturday and resulted in the death of Iran's Supreme Leader Ayatollah Ali Khamenei. The committee is expected to address global oil prices, the local currency, the economy, and government responses.

SEOUL, March 2 (Yonhap) -- The foreign affairs committee of South Korea's National Assembly will convene an emergency session this week to discuss the repercussions of U.S. and Israeli strikes on Iran, according to a lawmaker on Monday.

Rep. Kim Gunn of the main opposition People Power Party informed Yonhap News Agency that the session is set for Friday. This special meeting comes in the wake of U.S. and Israeli attacks on Iran that commenced on Saturday and led to the death of Supreme Leader Ayatollah Ali Khamenei.

The committee is anticipated to examine potential effects on global oil prices, the local currency, and the broader economy, alongside the wider security situation and the government's response strategies. It may also address related matters, such as tariff negotiations with the United States and North Korea's recent ruling party congress, which indicated a reluctance to engage in dialogue with Seoul.

Rep. Kim Gunn stated to Yonhap, emphasizing the need to closely review the Middle East situation's implications for South Korea's economy and security. The incident has raised concerns about international energy markets and regional stability, with the South Korean government bolstering its preparations.

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Dramatic illustration of Iran's new supreme leader Mojtaba Khamenei amid Middle East conflict escalation, surging oil prices, and South Korea's economic crisis with falling won.
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The Middle East conflict, triggered by U.S.-Israeli strikes on Iran, has intensified with Mojtaba Khamenei named as Iran's new supreme leader. Global oil prices have surged past $114 per barrel, pushing the South Korean won to a 17-year low against the U.S. dollar. The South Korean government is bolstering evacuation efforts and economic stabilization measures.

South Korean Prime Minister Kim Min-seok convened an emergency meeting with government officials on March 1 to review the Middle East situation following the death of Iran's supreme leader in attacks by the United States and Israel. During the meeting, Kim received briefings on the latest regional developments and discussed response measures. The government plans to prioritize the safety of its nationals and economic stability.

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South Korea's foreign ministry urged all parties involved to make utmost efforts to ease regional tensions on Saturday after the United States and Israel attacked Iran, prompting retaliatory strikes. The ministry is taking necessary precautions for the safety of South Koreans in Iran and reported no injuries or casualties among nationals in Iran and Israel. Seoul is closely monitoring the situation.

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.

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South Korea's government, ruling Democratic Party and presidential office agreed on a 25 trillion-won supplementary budget to address the Middle East crisis. The bill is set for submission to the National Assembly by end-March and passage on April 10. It aims to ease high oil prices and economic uncertainties.

South Korea's foreign ministry appointed former Ambassador to Kuwait Chung Byung-ha as special envoy to Iran to coordinate safe passage for its vessels and nationals amid the Middle East conflict. He will be sent to Tehran soon. The announcement came a day after Foreign Minister Cho Hyun's phone talks with his Iranian counterpart Abbas Araghchi.

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PBNU Chairman Yahya Cholil Staquf condemned the US and Israel attacks on Iran that killed Supreme Leader Ali Khamenei, while urging Iran to stop revenge actions. Foreign Minister Sugiono offered Indonesia's mediation for de-escalation. Police Chief Listyo Sigit Prabowo and Jakarta Governor Pramono Anung prepared for domestic security and economic impacts.

 

 

 

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