Ministry of Foreign Affairs Reviews Response Measures for Prolonged Middle East War... "Minimizing Economic Impact"

Cho Hyun: "Focus on Mid- to Long-Term Response"

The Ministry of Foreign Affairs has begun formulating a mid- to long-term response strategy to minimize supply chain shocks in preparation for the potential prolongation of the Middle East war.

Cho Hyun, Minister of Foreign Affairs, is speaking at an expert meeting on the Middle East war held at the Ministry of Foreign Affairs building in Jongno-gu, Seoul, on the 9th. Photo by Yonhap News

On April 9, the Ministry of Foreign Affairs announced that it held an "Expert Meeting on the Middle East War" chaired by Minister Cho Hyun, where participants discussed strategies for advancing economic security diplomacy.

At the meeting, Minister Cho stated, "Although there is currently a temporary ceasefire in the Middle East war, the situation remains extremely challenging." He added, "We are focusing on how to minimize the long-term impact on our economy and how to develop strategic responses accordingly."

In addition, participants reviewed various scenarios regarding the situation in the Strait of Hormuz and the overall Middle East landscape, and discussed the potential for a realignment of regional order. Experts offered diplomatic recommendations to manage risks to the energy supply chain and industrial competitiveness in a stable manner, as well as to strengthen supply chain resilience.

Attendees at the meeting included Koo Kiyeon, Director of the Center for West Asian Studies at the Seoul National University Asia Center; Yoon Kanghyun, former Ambassador to Iran; In Namsik, Professor at the Korea National Diplomatic Academy; Jang Jihyang, Senior Research Fellow at the Asan Institute for Policy Studies; Kwak Jeongsik, former Executive Vice President of POSCO Terminal; Kim Hyuncheol, Professor at the Graduate School of International Studies at Seoul National University; Park Jonghee, Professor at the Department of Political Science and International Relations at Seoul National University; and Lee Kwonhyeong, Senior Research Fellow at the Korea Institute for International Economic Policy. From the Ministry of Foreign Affairs, First Vice Minister Park Yoonju and Jeong Yeondu, Director-General of the Foreign Policy Strategy and Information Bureau, were also present.

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