South Korea approved a $17 billion (26.2 trillion won) supplementary budget on Tuesday aimed at mitigating the domestic impact of prolonged disruption in global energy markets linked to the Middle East conflict, as authorities move to stabilize prices, support households and shield key industries. The package, approved at a Cabinet meeting chaired by President Lee Jae Myung, focuses on easing fuel cost burdens, supporting vulnerable groups and limiting damage to supply chains as volatility in oil and gas flows persists.

Measures include cash transfers to lower-income households, expanded fuel tax cuts and continued price controls on petroleum products, alongside targeted