South Korean President Lee Jae Myung is scheduled to meet with leaders of the ruling and the main opposition parties to address the economic impact of the Middle East conflict. The meeting, set to take place at Cheong Wa Dae, will include Democratic Party (DP) leader Jung Chung-rae, DP floor leader Han Byung-do, People Power Party (PPP) leader Jang Dong-hyeok, and PPP floor leader Song Eon-seog. Prime Minister Kim Min-seok and presidential chief of staff Kang Hoon-sik will also participate in the discussions.
This gathering will be the first of its kind since Lee’s luncheon meeting with rival party leaders last September, as reported by Yonhap news agency. According to Presidential secretary for political affairs Hong Ik-pyo, the focus of the meeting is likely to be on the economic challenges arising from the Middle East conflict. Additionally, the meeting aims to establish a consultative body involving both ruling and opposition parties to address public welfare concerns.
In a recent development, the ruling DP and the government have agreed to send special envoys to Saudi Arabia, Oman, and Algeria in light of the closure of the Strait of Hormuz due to the US-Israeli conflict with Iran. Lawmakers and officials are actively working to secure crude oil supplies through negotiations with countries offering alternative shipping routes. Plans include dispatching Korean-flagged vessels to Yanbu in Saudi Arabia to ensure a stable oil supply.
