Prioritizing ‘Protection of Overseas Citizens’ for the Ministry of Foreign Affairs
Ministry of Strategy and Finance and Financial Services Commission to Activate Monitoring Systems Immediately, ‘Prime Minister Kim Min-seok issued an urgent directive to government departments on the 1st, instructing to focus on securing public safety and responding to economic shocks as uncertainties in the Middle East reached a peak following the death of Iran’s Supreme Leader Ayatollah Seyyed Ali Khamenei due to US and Israeli airstrikes.’,
Prime Minister Kim emphasized in an emergency directive from his office in the afternoon that day: “We perceive the current climax of military tension in the Middle East with utmost gravity,” and declared, “We will mobilize all government capabilities to ensure national security and economic stability.”
First, he ordered the Ministry of Foreign Affairs to “prioritize the protection of our citizens residing in the Middle East and neighboring countries by confirming their whereabouts and safety in real-time, and strengthening prompt guidance according to changing situations.” He also directed the establishment of a 24-hour response system to foreign and security crises for comprehensive analysis of information and regular situation assessment meetings to evaluate and share security and military risks.
In terms of the economy, Kim stressed proactive responses to the surge in international oil prices and increased volatility in foreign exchange and financial markets. He conveyed to the Ministry of Strategy and Finance and the Financial Services Commission to “immediately activate monitoring systems of oil prices, exchange rates, and stock markets, and prepare preemptive market stabilization measures and financial policy tools.”
Additionally, he requested the Ministry of Trade, Industry and Energy, and the Ministry of Oceans and Fisheries to thoroughly inspect energy supply stability and logistics/supply chain risks related to crude oil and liquefied natural gas (LNG) to minimize the shock to domestic industries and households. The government plans to alleviate public anxiety by releasing fact-based information swiftly and accurately.
At 6:30 PM, Kim will preside over an ‘Emergency Meeting with Relevant Ministries on Checking the Middle East Situation’ at the Government Complex Seoul. Key ministers from major ministries including the Ministry of Strategy and Finance, Ministry of Foreign Affairs, and Ministry of National Defense, along with officials from intelligence and investigation agencies such as the National Intelligence Service and the National Police Agency, and the National Security Office at the Blue House will attend to discuss concrete future measures.
Earlier that morning, President Lee Jae-myung, who embarked on a tour to Singapore and the Philippines, instructed before departure that “relevant departments should maintain an emergency response system centered on the Prime Minister during the tour, and report on the Middle East situation and economic impacts as needed,” urging for seamless governmental operations.