Middle East Security and Economic Situation Review Meeting

Comprehensive ⁢Review and ⁤Response Measures

The Office of the President held ⁣a security and ⁣economic situation review meeting related to the Middle⁢ East on September 24, ‍co-chaired by National Security Office Director Shin Won-sik and Policy Office Director Sung Tae-yoon.

The ⁤meeting aimed to comprehensively ​review the impact of the Middle East situation on South Korea’s⁤ security and economy and to discuss response measures.​ The‍ recent conflict between Israel and Hezbollah has heightened tensions in the region, ​prompting the need⁣ for a thorough ⁢assessment and proactive measures.

The meeting ‍participants analyzed the current situation and political landscape in the Middle‌ East,⁣ inspecting the safety of overseas Koreans, Korean⁤ companies, dispatched troops, and ⁤diplomatic missions. They also reviewed measures⁤ to strengthen safety‍ measures ⁣for Koreans, including diplomatic response measures in ‌preparation for worsening situations and emergency withdrawal measures in the event of an emergency.

The government‌ has decided to ​work closely with the​ international community to restore stability in the Middle East as soon as possible and to proactively take necessary measures by department as the situation‌ unfolds.

Economic Impact Assessment

Regarding the economic impact, the meeting participants assessed that ⁣despite the geopolitical ⁣risks in the Middle East, the​ current international oil price is ⁤not fluctuating much, and‍ the impact on crude oil and gas supply and demand and shipping ⁢logistics will ⁤be limited.

As​ for ⁣domestic and international financial ‍markets, the ‌impact from the Middle East has been limited so far, but⁢ since⁢ the instability in‌ the Middle East may‌ be prolonged in the future and there is a possibility of rapid ⁣changes‌ in the situation, they ​decided to continue monitoring domestic and international markets with a high level of alertness.

In‍ the ‍event ⁤of an abnormal sign, necessary measures will be immediately implemented according to ​the⁢ step-by-step response⁣ manual.

Meeting Attendees

Attending the meeting were:

• National Security Office Director Shin Won-sik
• Policy Office Director Sung Tae-yoon
• First Vice Minister of Foreign Affairs Kim Hong-gyun
• Vice Minister ⁤of Unification Kim Soo-kyung
• First ​Vice Director of the National Intelligence Service ⁢Hong Jang-won
• Defense ⁣Ministry Policy Planning Office Director Lee Young-bin
• Vice Minister of Strategy and ‍Finance Yoon In-dae
• Financial Services Commission Secretary-General Kwon Dae-young
• Officials from the Ministry of Trade, Industry ‍and Energy and the Ministry of Oceans and ‌Fisheries
• First Vice Director of the National Security Office Kim‌ Tae-hyo
• Second Vice Director of the National Security Office In Sung-hwan
• Third Vice Director of the National ⁢Security Office Wang Yoon-jong
• Senior Secretary to the President for Public ⁤Relations Lee Do-woon