South Korean President Lee Jae Myung ordered officials on Tuesday to prepare measures to stabilize prices and financial markets as rising tensions in the Middle East pushed energy markets into renewed volatility. Speaking during the government’s ninth Cabinet meeting, Lee said stabilizing prices had become “the most urgent policy priority” as global oil prices surged following escalating military confrontation in the region.

Lee instructed ministries to review a range of potential responses, including temporary fuel price controls, energy tax adjustments and targeted support for sectors vulnerable to higher fuel costs such as freight, delivery services and agriculture. Officials were also