South Korea’s President Lee Calls for Urgent Action Amid Rising Middle East Tensions
Seoul, South Korea — South Korean President Lee Jae Myung on Monday voiced deep concern over the rapidly escalating crisis in the Middle East, describing the situation as “very urgent” and warning that the ripple effects were already being felt in the global economy.
Speaking in a meeting with his senior aides, President Lee stressed the need for immediate, coordinated action. “This isn’t just a distant issue—it’s already affecting our markets, our economy, and our people. We must be fully prepared to respond,” he urged. Lee instructed his team to consider additional emergency measures that could be added to the government’s proposed supplementary budget.
The urgency of his message comes as oil prices soared to five-month highs and major stock markets across Asia experienced noticeable drops. Investors worldwide are on edge, fearing possible retaliation by Iran after U.S. airstrikes reportedly targeted its nuclear facilities—an escalation that could dramatically impact global trade and energy supplies.
President Lee acknowledged these fears, noting that further increases in oil prices could drive up inflation, putting additional pressure on South Korean households already facing economic strain. “Higher oil prices mean higher costs across the board—from food to transport—and our people will feel it first,” he said.
South Korea’s reliance on Middle Eastern crude oil is significant. In 2023, about 72% of the country’s crude oil imports came from the region. The potential closure of the Strait of Hormuz—through which nearly 20% of the world’s oil supply passes—has raised serious alarms in Seoul and beyond.
A senior official from the Ministry of Industry also raised concerns on Monday about the potential disruption to South Korea’s export-driven economy, should the situation worsen.
Amid these tensions, President Lee has opted not to attend the upcoming NATO summit this week. His office cited the Middle East crisis as the reason, stating that the president must remain in the country to monitor developments closely and coordinate national responses.
As the world watches the Middle East with growing unease, President Lee’s message was clear: this is a moment that calls for unity, readiness, and swift action—not just in South Korea, but globally.