Seoul
South Korea’s presidential office convened a meeting on Sunday to assess the economic implications of Israel’s recent military actions against Iran and to discuss strategies for protecting and evacuating South Korean nationals in the Middle East if necessary. Israel launched strikes against various Iranian targets, including missile manufacturing facilities, in response to a missile attack from Iran earlier in the month.
According to the office of President Yoon Suk Yeol, the current geopolitical risks in the Middle East appear to have a limited impact on the South Korean economy. However, they pledged to monitor the situation closely and take appropriate measures as tensions evolve.
While the recent attacks have not yet influenced South Korean financial markets, the government is vigilant regarding potential impacts on these markets and oil prices. South Korea does not currently import crude oil from Iran, but the presidential office indicated that it might consider implementing an additional fuel tax cut if oil prices experience significant volatility.
