South Korean President Lee Jae Myung has directed the government to promptly implement a 100 trillion-won (US$68.3 billion) financial initiative to stabilize capital markets in response to the escalating conflict in the Middle East. This decision came during an emergency Cabinet meeting held to address the aftermath of recent US-Israeli military actions against Iran, which have significantly impacted global economic and security conditions.
During the meeting at Cheong Wa Dae, President Lee emphasized the need to address the heightened financial market volatility, particularly in stocks and exchange rates. He stressed the importance of swiftly executing the market stabilization program to alleviate uncertainties in capital markets. Additionally, Lee instructed the government to develop contingency plans for the safe evacuation of South Koreans residing in the Middle East, utilizing all available resources including military and chartered aircraft.
In light of the evolving situation, President Lee urged authorities to identify and prepare emergency evacuation strategies for all South Korean nationals in the Middle East, encompassing employees, business travelers, students, and tourists. He emphasized the necessity of ensuring the safety of South Korean vessels and crew members operating in the waters surrounding the region. Efforts are underway to monitor the well-being of citizens in the affected areas and collaborate with friendly nations to facilitate swift and secure evacuations when required.
