South Korean President Lee Jae Myung said Tuesday the government should prepare measures to mitigate the potential economic fallout under the worst-case scenario where the Middle East crisis becomes prolonged. Lee made the call as the Strait of Hormuz, a critical global oil shipping route, has effectively been shut as the US-led war in Iran entered its third week, raising concerns for South Korea, which relies heavily on energy imports. “From now on, we must prepare measures with even the worst-case scenario in mind on the premise that the Middle East situation may be prolonged,” Lee said during a Cabinet […]... Keep on reading: Prolonged ME crisis: Lee calls for steps to handle worst-case scenarios