(ATTN: ADDS extra information in paras 8-9)
SEOUL, March 2 (Yonhap) — Prime Minister Kim Min-seok on Monday known as on the federal government to take preemptive steps to be ready in opposition to “each attainable situation” because the battle widened within the Center East following U.S.-Israeli assaults on Iran over the weekend.
Kim presided over the second assembly of related Cupboard ministers in Seoul on Monday, amid quickly escalating tensions within the Center East following the dying of Iran’s Supreme Chief Ayatollah Ali Khamenei in a joint U.S.-Israeli strike.
“The scenario within the Center East is altering so rapidly. We hope for a swift conclusion however at this juncture, it is troublesome to foretell how lengthy it will final,” Kim stated. “A few of the issues that we might feared, together with volatility within the monetary markets and the surge in oil costs, have materialized.
Prime Minister Kim Min-seok speaks at first of a gathering of related Cupboard ministries on the authorities complicated in Seoul on March 2, 2026, for a overview of the widening battle within the Center East. (Yonhap)
“The federal government should be ready to reply instantly, if the scenario turns into protracted or if we’re confronted with an surprising incident,” Kim continued. “Together with short-term responses, we should additionally overview the state of our mid-term plans.”
To that finish, Vice Business Minister Moon Shin-hak stated South Korea is ready for additional surges in oil costs.
“We have now stockpiled 208 days’ price of crude oil and petroleum merchandise,” he stated. “We’re totally ready for the lengthy haul.”
Kim stated he was “fairly involved” in regards to the security of South Korean nationals who’re stranded within the area as a result of flight disruptions, and demanded thorough plans to take them to security if such a necessity arises.
After the federal government assembly, Second Vice Overseas Minister Kim Jina stated about 17,000 South Korean nationals in complete are residing in about 10 Center Japanese nations which were attacked, not counting short-term vacationers, no accidents or casualties had been reported as of Monday night.
“Because the scenario is having a far-reaching influence all throughout the Center East, we’ll look to facilitate journey for Korean residents and vacationers to make sure their protected return residence,” Kim stated. “We’re bracing for potentialities that the scenario may drag on and escalate additional. We are going to attempt to prioritize the security of our folks.”
Kim Min-seok additionally requested the finance ministry to take cost in getting ready measures to help companies affected by the Center East disaster.
“The overseas trade and monetary markets could develop much more unstable, and we should strengthen our monitoring of oil costs, trade charges and inventory markets,” Kim stated. “We additionally should inform firms nicely forward of time how they could be assisted by the federal government and the way they’ll tell us what they want.”
Kim stated the related ministries should act calmly in order to place the folks’s thoughts comfortable.
“It doesn’t matter what the scenario, we have now to be composed and thorough,” he stated. “Correct and well timed data is vital for the federal government to reply successfully. Every ministry should share related data in actual time in order that we will all reply as one.”
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