President Lee: "Speed Is Vital in the 'Economic Wartime Situation'... Preemptive Measures Such as 'Wartime Supplementary Budget' Needed"

Presiding Over Senior Aides Meeting

“Difficult to Predict How Long the War Will Last,” President Warns

Securing 24 Million Barrels of Oil From UAE

“Urgent Need to Establish Stable Supply Channels”

“Comprehensive Review of All S

On March 19, President Lee Jaemyung once again called for the swift implementation of a “wartime supplementary budget” in response to the crisis originating from the Middle East, describing the situation as an “economic state of emergency.” He also highlighted the achievement of securing a total of 24 million barrels of crude oil from the United Arab Emirates (UAE) and receiving a pledge that Korea would be the top-priority recipient of oil supplies. The president urged government officials to take proactive measures across all aspects of public livelihoods with a sense of urgency.

Yonhap News Agency

During a meeting with senior secretaries held at the presidential office that day, President Lee stated, “Right now, it is more crucial than ever to secure even a single drop of oil and to establish stable supply channels.” He continued, “This supplementary budget, which is effectively a wartime budget, must be drafted in a way that alleviates the shock to the livelihoods of our people and sustains the momentum for economic recovery.” Emphasizing the need for speed, he added, “Please design the measures quickly so that the most vulnerable groups, small business owners, and companies, who are suffering significant impacts from the Middle East situation, can minimize their losses and ensure that funds circulate smoothly at the grassroots level.”

President Lee specifically mentioned the achievements of Kang Hoonshik, Chief of Staff at the presidential office, during his visit to the UAE. Kang recently visited the UAE as a special presidential envoy for strategic economic cooperation and secured an additional 18 million barrels of crude oil. Combined with the previously secured 6 million barrels, Korea has now urgently secured a total of 24 million barrels. President Lee remarked, “At a time like this, I consider it a major achievement that the Chief of Staff visited the UAE, secured 24 million barrels of crude oil, and obtained a promise that our country will be the top-priority recipient of oil supplies.”

He also cautioned that the aftermath of the Middle East crisis could push regional economies into an even deeper recession and asked for special attention to these issues. “Local issues are not just the concern of individual regions, but of the entire Republic of Korea,” President Lee said, urging strict adherence to the principle of prioritizing regional areas in all fields, including revitalizing local commercial districts, public procurement from local businesses, establishing region-led research and development (R&D) systems, and promoting regional tourism through investment, research, and education.

President Lee also issued directives regarding public safety and tourism. Referring to a recent stalking-murder case in Namyangju, he said, “I hope the police will thoroughly review all reported stalking cases and swiftly implement protection measures for victims.” He added, “Rather than blaming institutional shortcomings, it is the government’s responsibility to use all existing systems to protect the public. Please move quickly to reinforce the system firmly and thoroughly so that such a tragedy does not happen again.” Following President Lee’s stern remarks, the police immediately launched an internal inspection into possible mishandling of the case.

Yonhap News Agency

With a BTS concert scheduled in Gwanghwamun over the weekend, President Lee pointed out that congestion at the arrival halls of Incheon International Airport could worsen. He instructed the Ministry of Justice to quickly deploy the necessary personnel and equipment to reduce confusion and inconvenience, emphasizing, “The arrival hall is where visitors form their first impression of a country.”

He went on to say, “The leap to an era of 30 million inbound tourists begins with small, meticulous improvements, not grand gestures. Please ensure order is maintained, but also make sure our citizens experience no inconvenience.” The Ministry of Justice will implement special immigration screening measures to cope with the expected influx of foreign tourists for BTS’s comeback concert. Key measures will include increasing the number of screening stations during peak arrival times and adjusting staffing to ensure early start times and extended hours for immigration officers.

This content was produced with the assistance of AI translation services.