South Korea’s presidential office said on Sunday it had convened an emergency economic review meeting following the collapse of initial ceasefire talks between the U.S. and Iran, warning that uncertainty surrounding the Korean economy remains elevated as tensions in the Middle East persist. The meeting, chaired by policy chief Kim Yong-beom, assessed the risk of a prolonged crisis and its potential impact on energy supply and broader economic conditions, according to spokesperson Jeon Eun-soo.

The government will maintain its current emergency response system until a clear end-of-war declaration is made, Jeon said, with ongoing measures including a product-specific “traffic light