President Lee Jae Myung said the government is preparing measures to stabilize financial markets and safeguard energy supply as the U.S.-Israel campaign against Iran heightens global economic uncertainty. Speaking at an extraordinary Cabinet meeting on Thursday, Lee warned that volatility in global markets and disruptions to energy trade could quickly affect South Korea’s economy, which relies heavily on imported fuel and internationally exposed financial markets.

Lee instructed ministries to respond swiftly to potential instability in stock and foreign exchange markets and ensure that the government’s $68 billion (100 trillion won) market stabilization program can be deployed if needed. Authorities were