President's Office, Middle East-related Situation Inspection Meeting... "Monitoring Financial and Crude Oil Markets"

The presidential office held an emergency security and economic situation inspection meeting presided over by Sung Tae-yoon, chief of the policy office, and Kim Tae-hyo, first deputy director of the National Security Office, in connection with Israel's attack on Iran.

Participants examined the safety of overseas Koreans, Korean companies, and overseas missions following Israel's attack on Iran, and discussed ways to protect and evacuate our people's safety against the possibility of worsening the situation.

It also decided to respond by monitoring the impact on financial, oil and crude oil markets as the situation progresses later, although Israel's attack on Iran took place over the weekend and has not yet affected the domestic financial markets.

Participants assessed that the impact of geopolitical risks in the Middle East on our economy is currently limited, but said they will continue to maintain a 24-hour monitoring system in preparation for possible changes in the situation.

Currently, crude oil reserves are sufficient for more than 200 days and there is no abnormality in gas supply and transportation, but if there is significant volatility due to the impact of the global crude oil market, we will respond through various stabilization measures such as further cuts in oil taxes.