Urgent Review of Middle East Situation... Choi Sang-mok: "Emergency Response Teams of Related Agencies Operating Daily"

Holding of the External Economic Review Meeting on the 14th

Amid rising tensions in the Middle East due to Iran's retaliatory attacks on Israel, a Foreign Economic Inspection Meeting was held on the 14th, with emergency response teams from related agencies operating daily and 24-hour monitoring being conducted.

Choi Sang-mok, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, attends a Cabinet meeting held at the Government Seoul Office in Jongno-gu, Seoul on the 11th, touching his glasses. Photo by Jo Yong-jun jun21@

Choi Sang-mok, Deputy Prime Minister and Minister of Strategy and Finance, held the Foreign Economic Inspection Meeting to assess how the escalating tensions in the Middle East caused by Iran's retaliatory attacks on Israel might impact our economy. The meeting was attended by the 1st and 2nd Vice Ministers of the Ministry of Strategy and Finance, Vice Minister, Director of the Budget Office, Director of the Tax Office, Director of International Economic Affairs, and Director of Fiscal Management.

Deputy Prime Minister Choi emphasized the need for close cooperation to re-examine contingency plans for various scenarios in preparation for any possible situation and to respond promptly and appropriately when necessary. He also instructed to fully perform the government's role if financial and foreign exchange market volatility expands excessively, deviating from our economic fundamentals due to external shocks, and to further strengthen monitoring of real economy trends resulting from this situation.

According to foreign media, on the night of the 13th (local time), Iran launched a surprise airstrike on Israel, firing dozens to hundreds of armed drones and missiles. This late-night airstrike over the weekend marks Iran's first full-scale attack on the Israeli mainland.