Seoul: Prime Minister Kim Min-seok on Monday urged the government to implement preemptive measures to prepare for "every possible scenario" as tensions in the Middle East escalated due to U.S.-Israeli attacks on Iran over the weekend.

According to Yonhap News Agency, Kim presided over the second meeting of relevant Cabinet ministers in Seoul, as the situation intensified following the death of Iran's Supreme Leader Ayatollah Ali Khamenei in a joint U.S.-Israeli strike. Kim highlighted the rapidly evolving situation and expressed concern over the volatility in financial markets and the spike in oil prices, which were anticipated outcomes of the conflict.

Kim emphasized the necessity for the government to be ready for immediate response if the conflict prolongs or unexpected incidents occur. He stressed the importance of reviewing both short-term actions and mid-term plans to ensure comprehensive preparedness.

Expressing concern for South Korean nationals stranded in the Middle East due to flight disruptions, Kim urged for detailed plans to ensure their safety and timely evacuation if needed. He also instructed the finance ministry to devise measures to support firms impacted by the crisis.

Kim highlighted the potential volatility in foreign exchange and financial markets and called for enhanced monitoring of oil prices, exchange rates, and stock markets. He emphasized the importance of informing companies in advance about available government support and the process for communicating their needs.

He concluded by urging relevant ministries to maintain composure and act effectively to reassure the public. Kim underscored the importance of accurate and timely information sharing among ministries to facilitate a coordinated government response.