Seoul convenes crisis talks as Iran conflict raises global economic concerns

South Korean President Lee Jae-myung will convene an extraordinary cabinet meeting this week to address the escalating crisis in the Middle East, the presidential office announced on Wednesday, according to Yonhap News Agency.

The emergency session, scheduled for March 5, will include senior officials from the ministries of finance and foreign affairs. The move follows joint US and Israeli airstrikes on Iran, which have prompted retaliatory military actions by countries in the region and intensified concerns about a widening regional conflict.

During the meeting, President Lee is expected to receive a detailed briefing on the current situation surrounding the Iranian crisis. Discussions will focus on the potential implications for South Korea, as well as possible response measures aimed at protecting national interests and maintaining security in the region.

In parallel diplomatic efforts, a senior official from South Korea’s Foreign Ministry met on Wednesday, March 4, with ambassadors from six Arab states in the Persian Gulf. According to Yonhap, Jeong Kwang-yong, director-general of the Foreign Ministry’s Bureau of African and Middle Eastern Affairs, held talks with the ambassadors of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.

The consultations took place against the backdrop of Iranian retaliatory strikes targeting sites in Persian Gulf countries following US and Israeli military operations, developments that suggest the Middle East conflict could expand further.

During the meeting, Jeong conveyed “serious concern” over rising tensions and the resulting damage. He expressed hope that civilians and civilian infrastructure would not be harmed amid the hostilities. He also commended the diplomatic efforts of Gulf countries to preserve peace and stability, stressing the importance of preventing the conflict from adversely affecting the global economy, energy supply chains and international logistics networks.

The Gulf ambassadors, for their part, briefed the South Korean side on the security situation and outlined the impact of the recent clashes on civilian populations and infrastructure. They called for sustained attention and support from South Korea as tensions continue to mount.

By Tamilla Hasanova