'Prolonged Middle East War': Government Overhauls Emergency Economic System... Prime Minister Han Says "Transitioning to Deputy Prime Minister-Led Structure"

16th Emergency Economic Inspection Meeting

As the Middle East war situation has dragged on for over five months, the government has decided to transition part of the 'emergency economic regime' to a semi-permanent status and to continue with follow-up responses. The emergency economic inspection meeting, which has been chaired by the Prime Minister following the President, concluded on July 29.

Prime Minister Han Sung-sook is speaking on economic issues at the emergency economic inspection meeting held at the Government Seoul Office in Jongno-gu, Seoul on July 29, 2026. Photo by Jo Yongjun

Prime Minister Han Sung-sook presided over the 16th emergency economic inspection meeting at the Government Seoul Office on the morning of July 29 and stated, "Today marks the end of the emergency economic inspection meeting, and since the Deputy Prime Minister is now focused on overseeing the Middle East war situation, we plan to shift to a Deputy Prime Minister-led system." This move aims to streamline the division of work between the Prime Minister and Deputy Prime Minister and to reduce redundant meeting attendance among ministers and other cabinet members.

In late February, when the United States launched a surprise attack on mainland Iran, triggering the Middle East war, President Lee Jaemyung began chairing the emergency economic inspection meeting himself starting in March. Both the presidential office and the government activated separate emergency response teams. At the beginning of this month, Prime Minister Han assumed office and took over the gavel from the President, but after about a month, the system is now being handed over again to the Deputy Prime Minister.

However, Prime Minister Han emphasized the ongoing need for responsive measures, stating, "Armed clashes and temporary pauses between the United States and Iran continue to repeat. The pattern of conflict is becoming increasingly complex, with the possibility of a Red Sea blockade and signs of expanding scope." She added, "The government should continuously check whether ongoing crisis response measures are being implemented consistently. Please ensure strict crackdown and penalties for acts that disrupt market order, such as hoarding and collusion, and verify that improvements to relevant systems, including the Price Stabilization Act, are being carried out without delays."

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