Vice Minister Kim Bum-seok said, "The impact of the Middle East is still limited..."Response with all possibilities open"

In connection with rising tensions in the Middle East, Deputy Minister of Strategy and Finance Kim Beom-seok held a joint market situation inspection meeting with related agencies at the Seoul Government Complex this morning to examine the impact of the Middle East situation and discuss follow-up measures.

Kim said early this morning that the impact on oil supply, imports and exports, and supply chains after Iran's airstrike in Israel is still limited, but he will keep all possibilities open and strengthen inspections and responses as military tensions are still high.

In particular, he stressed that if the market deviates from the basic economic fundamentals of the Korean economy and shows excessive volatility, it will take immediate and bold action in accordance with the prepared contingency plan.

Kim said he should pay attention to the possibility of intensifying international energy price volatility, adding that he will also work harder to manage prices to prevent negative effects on stable domestic prices.