Seoul
South Korea has set aside $609 million in an extra budget to respond to the Middle East crisis affecting energy and supply chains. The plan, approved by the Cabinet led by President Lee Jae Myung, includes support for oil supplies, petrochemical firms, and small businesses facing export issues. Funds will also address fuel price concerns and boost rare earth production. Additionally, investment will be made to promote artificial intelligence in industries like steel and automobiles. The broader budget aims to support the economy and provide relief to lower-income groups, pending approval from the National Assembly later this week.