The Korea Times
President Lee Jae Myung described people’s livelihoods as being in a “war-like situation” amid a looming energy crisis stemming from the conflict in the Middle East, saying that the crisis shows no clear signs of ending. To help mitigate the risks on the Korean economy, the president called for bipartisan support for swift approval of a 26.2 trillion won ($17.24 billion) supplementary budget. Lee’s evaluation of the situation came in his Thursday budget speech at the National Assembly in Seoul. “The government recognizes this crisis as an economic ‘war-like situation’ and is mobilizing all available resources to overcome the challenges at hand,” the president said. “It is not a passing shower — it is a massive storm of uncertain duration," he said. "Even if the war were to end tomorrow, it will take considerable time to restore damaged energy infrastructure in the Middle East and return to supply stability.” He said the country must prepare a more thorough and resilient response, calling the budget a “breakwater” protecting people from the waves of the crisis, as
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