Seoul: President Lee Jae Myung on Thursday urged the National Assembly to promptly approve a supplementary budget aimed at addressing the economic consequences of the ongoing conflict in the Middle East. Lee emphasized the necessity of extraordinary measures to tackle the crisis.

According to Yonhap News Agency, during a budget speech to the National Assembly, Lee detailed a 26.2 trillion-won (US$17.1 billion) proposal for the extra budget. He characterized the unfolding situation as an "unexpected, multifaceted" crisis, noting the escalation as the U.S. war on Iran progresses into its second month.

Lee stressed the need for urgent action, stating, "Extraordinary measures are needed in times of emergency." He affirmed the government's recognition of the current scenario as a wartime-level crisis affecting the people's economy and highlighted the mobilization of all available resources to mitigate its impact.