(LEAD) Lee to preside over extraordinary Cabinet meeting on mounting Middle East tensions

▲ South Korean President Lee Jae Myung speaks during a joint press conference with Philippine President Ferdinand Marcos Jr. following their talks at Malacanang Palace in Manila on March 3, 2026. (Yonhap)

(LEAD) Lee-Cabinet meeting

(LEAD) Lee to preside over extraordinary Cabinet meeting on mounting Middle East tensions

(ATTN: UPDATES with more details in last 4 paras)

By Yi Wonju

SEOUL, March 4 (Yonhap) -- President Lee Jae Myung will preside over an extraordinary Cabinet meeting this week to discuss response measures to the mounting crisis in the Middle East shortly after returning from his Southeast Asia trip, Cheong Wa Dae said Wednesday.

The extraordinary meeting, set for Thursday, will be attended by top officials from the finance and foreign ministries, as joint U.S.-Israeli airstrikes on Iran have triggered military responses from countries across the region, fueling concerns over a wider regional conflict.

During the meeting, Lee is expected to be briefed on the situation surrounding the Iran crisis, and discuss its potential impact and response measures.

Lee is scheduled to return home late Wednesday from his state visits to Singapore and the Philippines.

To help Lee manage the situation smoothly upon his return, the presidential office was to hold a preliminary meeting of relevant government agencies on Wednesday.

The meeting was set to discuss the impact of the Middle East situation on international financial markets and oil prices, as well as its effects on domestic stocks, foreign exchange rates and ways to respond.

The Cabinet may also review a special bill to establish an integrated metropolitan city encompassing Gwangju and South Jeolla Province, as well as three judicial reform bills championed by the ruling Democratic Party.

The reform bills, passed last week despite fierce resistance from the main opposition People Power Party alongside the special bill, introduce a new offense of "legal distortion," allow constitutional appeals of court rulings, and increase the number of Supreme Court justices from 14 to 26.

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