South Korean President Lee Jae Myung called on lawmakers Thursday to swiftly approve an emergency spending package worth 26.2 trillion won, equivalent to $17.3 billion, as the nation faces what he described as an unprecedented energy security crisis stemming from Middle East conflicts.
Speaking to parliament in a nationally broadcast address, Lee warned that energy supply disruptions will persist long after current hostilities end. “Even if the war ends tomorrow, it will take a considerable period of time for the destroyed energy infrastructure facilities in the Middle East to be restored and supplies to run as smoothly as before,” the president stated.
Legislative leaders anticipate the emergency budget will receive parliamentary approval by April 10th. Once lawmakers give their backing, government officials plan to begin implementing the economic support measures immediately.
