South korea: South Korea will seek to promote a post-Middle East crisis growth strategy in the second half, focusing on bolstering supply chains and strengthening energy security, the finance ministry said Tuesday. Finance Minister Koo Yun-cheol unveiled an outline of the economic growth strategy for the second half of 2026 during a Cabinet meeting Tuesday, chaired by President Lee Jae Myung, according to the Ministry of Finance and Economy.

According to Yonhap News Agency, the South Korean economy has been gaining momentum on the back of strong exports and a recovery in domestic consumption despite challenges in early 2026, including the Middle East war. The finance ministry stated that South Korea has effectively responded to such challenges by implementing an emergency response system led by the president, including a price cap on oil prices.

Looking ahead, the finance ministry anticipates that the global artificial intelligence (AI) boom is expected to continue "at least" through 2027, noting macroeconomic conditions may improve better than initially expected. South Korea aims to take advantage of such a "golden time" for an economic leap by preparing a post-war strategy while making efforts to boost economic growth and address structural issues, such as economic disparities.

In detail, the government plans to maintain an expansionary fiscal policy while making efforts to stabilize prices by improving the retail system in the agricultural and fisheries sectors. The country will also promote the use of renewable energy sources in line with its carbon-free energy drive.

To bolster the country's economic potential, the finance ministry intends to accelerate the AI drive to become one of the world's top three AI powerhouses while fostering new growth engines, such as software, computers, biotechnology, and shipbuilding. The finance ministry plans to come up with the finalized economic growth plan for the second half in late June.