South Korea braces for Middle East fallout, PM pledges full readiness

South Korean Prime Minister Kim Min-seok emphasised that the government is fully equipped to handle any developments as the Middle East conflict escalates.

During a meeting with relevant ministers, Kim pointed out that the conflict, triggered by US-Israeli airstrikes on Iran on February 28, has now expanded across the region, and the Strait of Hormuz has been "effectively blocked," Caliber.Az reports via South Korean media.

He noted that the global economy is showing "mixed trends," while the domestic stock market fell sharply on March 3.

“The foundations of our economy are solid, and the government is fully prepared," he said during the third meeting of its kind since March 1. "I ask the people to calmly maintain their everyday lives. We are fully capable of wisely overcoming all related situations."

Kim directed the foreign and defence ministries to prioritise the safety of South Korean nationals and deployed troops, offer consular support to citizens in the region, and prepare emergency evacuation plans if necessary.

He also ordered all economic ministries and agencies to enhance financial market monitoring, take steps to stabilise the economy, and devise measures to support South Korean businesses affected by the crisis. In guidance to the industry and oceans ministries, he stressed carefully reviewing oil shipment statuses and reserves, along with ensuring the safety of South Korean vessels and crews.

"Above all, now is a time when accurate information is important. Psychology is important for the economy," he added, warning that legal actions and other measures will target individuals spreading misinformation to profit from fear.

Kim assured that the government is closely monitoring developments and preparing plans for any scenario, including economic impacts, and urged citizens to trust the authorities’ actions while maintaining their normal daily routines.

By Jeyhun Aghazada