Prime Minister Kim Min-seok issued a stern warning against unfair market practices on April 8 during an emergency economic meeting on the Middle East crisis. He pledged a "zero-tolerance" principle to curb disruptions fueled by fake news or hoarding. Kim urged swift passage of a supplementary budget and risk assessments for alternative shipping routes.
Prime Minister Kim Min-seok spoke at an emergency economic headquarters meeting on the Middle East crisis held at the Government Complex Seoul on Wednesday. He vowed that the government would apply a "zero-tolerance" principle to crack down on any potential market disruptions, including "actions that fuel anxiety through fake news or harm the interests of the public through hoarding."
"The situation in the Middle East remains shrouded in uncertainty and concerns are growing over a protracted war," Kim said. "The government must prepare for all possible scenarios and actively explore every available measure. Above all, we need a zero-tolerance approach against any act that disrupts market order."
Kim urged Cabinet members to ensure a supplementary budget aimed at stabilizing people's livelihoods passes without delay. He also called on authorities to thoroughly conduct risk assessments on alternative shipping routes bypassing the Strait of Hormuz.
