S. Korea to Trigger Emergency Response System Amid Middle East Crisis
Addressing a cabinet meeting, Lee warned that the prolonged expansion of the Middle East conflict was severely disrupting crude oil and natural gas supply chains, noting that the International Energy Agency had flagged the situation as the most significant threat to energy security in recorded history and cautioned of its far-reaching consequences for the global economy.
The president stressed the unpredictability of the crisis, cautioning that disruptions to petrochemical supplies — which are deeply embedded in everyday life — could strike without warning, prompting the government to take preemptive action to shield citizens' livelihoods and protect the broader national economy.
Lee directed officials to develop concrete relief measures ahead of Friday's scheduled second public notice for maximum oil prices, as part of the country's newly introduced petroleum price ceiling system — a mechanism not deployed since oil price liberalization in 1997.
The wholesale price cap — governing the rates at which oil refiners supply fuel to gas stations — was first imposed on March 13 and is set to be recalibrated on a biweekly basis going forward.
Beyond supply-side controls, the president called on the public to actively participate in national energy conservation efforts, instructing government institutions to enforce a one-in-five vehicle rotation policy — a system that limits vehicle operation to one restricted day per week, determined by the final digit of each license plate number.
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