(LEAD) PM asks gov′t to stay prepared against ′every possible scenario′ in Middle East conflict

▲ Prime Minister Kim Min-seok speaks at the start of a meeting of relevant Cabinet ministries at the government complex in Seoul on March 2, 2026, for a review of the widening conflict in the Middle East. (Yonhap)

(LEAD) S Korea-Middle East situation

(LEAD) PM asks gov't to stay prepared against 'every possible scenario' in Middle East conflict

(ATTN: ADDS more info in paras 5-6)

SEOUL, March 2 (Yonhap) -- Prime Minister Kim Min-seok on Monday called on the government to take preemptive steps to be prepared against "every possible scenario" as the conflict widened in the Middle East following U.S.-Israeli attacks on Iran over the weekend.

Kim presided over the second meeting of relevant Cabinet ministers in Seoul on Monday, amid rapidly escalating tensions in the Middle East following the death of Iran's Supreme Leader Ayatollah Ali Khamenei in a joint U.S.-Israeli strike.

"The situation in the Middle East is changing so quickly. We hope for a swift conclusion but at this juncture, it's difficult to predict how long this will last," Kim said. "Some of the things that we'd feared, including volatility in the financial markets and the surge in oil prices, have materialized.

"The government must be prepared to respond immediately, if the situation becomes protracted or if we're faced with an unexpected incident," Kim continued. "Along with short-term responses, we must also review the state of our mid-term plans."

To that end, Vice Industry Minister Moon Shin-hak said South Korea is prepared for further surges in oil prices.

"We have stockpiled 208 days' worth of crude oil and petroleum products," he said. "We are fully prepared for the long haul."

Kim said he was "quite concerned" about the safety of South Korean nationals who are stranded in the region due to flight disruptions, and demanded thorough plans to take them to safety if such a need arises.

Kim also asked the finance ministry to take charge in preparing measures to assist firms affected by the Middle East crisis.

"The foreign exchange and financial markets may grow even more volatile, and we must strengthen our monitoring of oil prices, exchange rates and stock markets," Kim said. "We also must inform companies well ahead of time how they may be assisted by the government and how they can let us know what they need."

Kim said the relevant ministries must act calmly so as to put the people's mind at ease.

"No matter what the situation, we have to be composed and thorough," he said. "Accurate and timely information is important for the government to respond effectively. Each ministry must share relevant information in real time so that we can all respond as one."

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