▲ Prime Minister Kim Min-seok speaks during an emergency meeting on the Middle East conflict at the government complex in Seoul on March 3, 2026. (Yonhap)

PM-Middle East

PM assures nation of gov't preparedness against fallout from Middle East conflict

By Lee Haye-ah

SEOUL, March 3 (Yonhap) -- Prime Minister Kim Min-seok assured the nation Tuesday that the government is fully prepared for any eventualities amid the widening conflict in the Middle East.

Speaking at a meeting with relevant ministers, Kim noted the conflict started by U.S.-Israeli airstrikes on Iran on Saturday has spread across the region, while the Strait of Hormuz has been "effectively blocked."

The global economy is showing "mixed trends," he said, while the local stock market plummeted Tuesday.

"The foundations of our economy are solid and the government is fully prepared," he said during the third meeting of its kind since Sunday. "I ask the people to calmly maintain their everyday lives. We are fully capable of wisely overcoming all related situations."

Kim instructed the foreign and defense ministries to focus on the safety of nationals and troops dispatched overseas, while providing consular assistance to South Korean visitors to the region and preparing emergency transport measures in case the need arises.

He ordered all economy-related ministries and agencies to strengthen monitoring of financial markets, take necessary stabilization measures, and prepare ways to support South Korean companies affected by the crisis. In instructions to the industry and oceans ministries, he called for thoroughly checking the status of oil shipments and reserves as well as the safety of South Korean vessels and crew members.

"Above all, now is a time when accurate information is important. Psychology is important for the economy," he said, warning of legal and other measures against people who spread misinformation in order to make a profit by exploiting fear.

He also urged the press to refrain from reporting unverified information.

"The government is closely monitoring developments as they happen and preparing contingency plans with all possible scenarios in mind, including the impact on the economy," Kim said. "I ask the people once again to trust the government's response and maintain your peaceful everyday lives as usual."

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