▲ Prime Minister Kim Min-seok speaks during an emergency economic headquarters meeting at the government building in Seoul on March 29, 2026. (Yonhap)

PM-economy

PM vows preemptive steps against potential shortage of daily necessities

SEOUL, March 29 (Yonhap) -- Prime Minister Kim Min-seok on Sunday vowed to take preemptive measures against possible shortages of daily necessities, as the Middle East crisis has disrupted global energy markets and driven up energy prices.

"We are at a grave economic crossroads," Kim said during an emergency economic headquarters meeting. "The aftermath of the Middle East conflict is emerging as a complex crisis for our economy, in the form of severe energy supply instability and global supply chain disruptions."

He stressed that now is a critical time to respond to potential supply shocks, warning that failure to act promptly could lead to significant public anxiety and inconvenience.

"We have to analyze the impact of supply disruptions originating in the Middle East on essential goods under various scenarios and establish phased response plans," he said. "We need to thoroughly and meticulously review the items expected to face supply disruptions without missing a single one."

He also called on the government to work closely with the National Assembly and prepare to execute a supplementary budget in a timely manner.

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