Seoul: South Korea's acting finance minister on Sunday instructed government officials to swiftly take measures, if needed, to deal with the economic impact of U.S. strikes on Iran's nuclear facilities, as external uncertainty has heightened. Acting Finance Minister Lee Hyoung-il made the remarks during an emergency meeting to assess the impact of U.S. strikes on Iran on the South Korean economy and financial markets.

According to Yonhap News Agency, Lee emphasized the importance of coordination among institutions in responding to the evolving Middle East situation. He urged these bodies to take necessary actions swiftly if an unusual event occurs, given the heightened uncertainty surrounding Iran's potential counteractions.

The emergency meeting, conducted via conference call, included officials from various government sectors such as the foreign affairs and trade ministries, as well as representatives from the Bank of Korea, the Financial Services Commission, and the Finance Supervisory Service.

The government reported no disruptions in South Korea's energy reserves and supplies, nor any unusual developments in maritime and logistics transportation near the Middle East. Nevertheless, due to the heightened external uncertainty, the government plans to maintain constant monitoring of the Middle East situation, focusing on finance, energy, trade, and maritime transportation.

The finance ministry announced its readiness to implement measures in accordance with an economic contingency plan and promised "immediate and bold" actions if the country's financial markets exhibit excessive volatility. In a related move, the Ministry of Trade, Industry and Energy held a meeting to examine the implications of the U.S. attacks on South Korea's trade, energy, and supply chains.

South Korea, which relies entirely on energy imports predominantly from the Middle East, has not faced any issues with energy imports, including crude oil and gas. The trade ministry assessed that the Middle East tensions currently have a limited impact on South Korea's trade and supply chains.

The strikes by U.S. warplanes on Iran's nuclear facilities, as announced by U.S. President Donald Trump, mark a significant escalation in the conflict between Iran and Israel.