South Korea on Thursday announced a package of emergency economic measures following a presidentially chaired review meeting, as the government moves to contain the domestic impact of the Middle East war on energy prices, supply chains and financial markets. The measures, led by the Ministry of Economy and Finance in coordination with relevant ministries, focus on stabilizing energy prices, managing critical supply chains, supporting vulnerable sectors and maintaining foreign exchange and financial market stability.

Key actions include an expansion of fuel tax cuts on gasoline and diesel through May, continued operation of a price cap system on petroleum productsand