President reiterates need for extra budget to ease Iran conflict effects

President Lee Jae Myung renewed his call Tuesday for a supplementary budget to counter the economic fallout from the extended U.S.-Israeli conflict with Iran, urging swift action. “As the impact of the Middle East war continues to grow, the faster the supplementary wartime budget is drafted and executed, the greater its effectiveness will be,” he said during a weekly Cabinet meeting at Cheong Wa Dae. Lee said the budget should be “carefully designed around the principle of direct impact on citizens,” with key goals including easing the burden of high fuel prices, stabilizing livelihoods, minimizing industrial damage, securing supply chains and revitalizing provincial economies. Citing the International Energy Agency, the president said the Iran crisis represents the worst energy security threat in history and could shock the global economy. “To address the serious potential crises that could affect livelihoods, the economy and industry, the government must activate a preemptive emergency response system,” he said. The president’s remarks came after he previously emphasized t

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