South Korea’s finance minister Choi Sang-mok convened an urgent meeting with key officials on Sunday to assess the situation in the Middle East following Iran’s drone and missile attack on Israel. Choi received a report on the joint situation review meeting and warned that the escalating crisis could increasingly impact the South Korean economy. He also emphasized the need to examine the ministry’s “contingency plan” to respond swiftly to any urgent situation that can shock the South Korean economy.

Later in the day, President Yoon Suk-yeol also presided over an emergency meeting to discuss the impact of escalating Middle Eastern conflicts on South Korea's economy and security. Yoon instructed officials to thoroughly prepare safety measures for South Korean residents, travelers and vessels in the region.