Presidential Office Holds Security and Economic Situation Review Meeting: "Limited Impact from Middle East Geopolitical Risks"

"Safety Inspections for Overseas Koreans, Companies, and Deployed Troops"

Shin Won-sik, Director of the National Security Office, is presiding over the Security and Economic Issues Review Meeting held on the 24th at the Presidential Office in Yongsan, Seoul.
[Image source=Yonhap News]

The Presidential Office on the 24th assessed the domestic impact of the clash between Israel and Hezbollah, stating that "despite the geopolitical risks in the Middle East, international oil prices have not seen significant fluctuations, and the impact on crude oil and gas supply and maritime logistics is limited."

On the same day, the Presidential Office held a security and economic situation review meeting related to the Middle East, co-chaired by National Security Office Director Shin Won-sik and Policy Office Director Sung Tae-yoon. The meeting comprehensively examined the effects of the escalating tensions between Israel and Hezbollah on our security and economy and discussed response strategies.

Participants analyzed the current situation and developments in the Middle East region and checked the safety of overseas nationals, Korean companies, deployed military units, and diplomatic missions.

They also reviewed diplomatic response measures in preparation for a worsening situation, including enhanced safety measures for our citizens, such as emergency evacuation plans in case of contingencies.

The government decided to closely cooperate with the international community to ensure the swift restoration of stability in the Middle East and to proactively take necessary measures by each ministry according to the evolving situation.

Regarding the impact on domestic and international financial markets, the government stated, "So far, the impact from the Middle East has been limited; however, given the possibility of prolonged instability and sudden changes in the situation, we will maintain a high level of vigilance and continue monitoring domestic and international markets." It added, "If any signs arise, necessary measures will be promptly implemented according to the step-by-step response manual."