Prime Minister Han Seong-sook says international oil prices and supply chain instability should be treated as constants, calls for short- and long-term measures

[Financial News] Prime Minister Han Seong-sook said on the 15th, "International oil prices and supply chain instability should be treated as constants, and we must move ahead with our short- and long-term measures."
At a meeting to review emergency economic conditions at Government Complex Seoul that day, Han said, "Recent armed clashes between the United States and Iran are recurring, and the ceasefire negotiations are also at risk of collapsing. As the situation stabilizes, international oil prices are rising again, and this is directly putting pressure on our prices and supply chains."
Han added, "Please thoroughly review the current supply and demand conditions for crude oil, naphtha and other key inputs, and actively push for alternative routes and supply chain diversification." He also said, "Please closely monitor the situation so that the government can respond quickly as conditions change."
Han also noted, "This is a time when rising energy prices are being compounded by seasonal disaster risks such as intense heat and heavy rain, making life harder for ordinary people and vulnerable groups." He said, "The relevant ministries, including the Ministry of Finance and Economy, MAFRA and MOF, should do everything possible to prevent the energy shock from the Middle East from spreading to people's livelihoods, and should pay close attention to the difficulties faced by farmers, fishers and other producers."
Han added, "Please devote all efforts to on-site inspections and advance preparations so that the safety and livelihoods of vulnerable groups can be protected more thoroughly from heat waves and heavy rain."

syj@fnnews.com Seo Young-joon Reporter