On March 25, Cheong Wa Dae announced that President Lee Jae Myung at this week's Cabinet meeting had directed the preemptive activation of an emergency response framework in light of the situation in the Middle East. 

Accordingly, an Emergency Economic Situation Room, to be chaired by the Chief of Staff, will be established under the Emergency Economic Review Meeting presided over by the President. This body will work in close coordination with the whole-of-government Emergency Economic Headquarters, headed by the Prime Minister, to manage domestic and international developments arising from the war in the Middle East with heightened vigilance.

The Presidential Office's Emergency Economic Situation Room will operate under the leadership of the Chief of Staff, with the National Security Advisor and the Policy Advisor serving as Deputy Directors. The Senior Secretary for Political Affairs will serve as General Coordinator, and the Director of the Presidential Situation Room will serve as Working-Level Coordinator.

Under the Emergency Economic Situation Room, five working-level response teams will operate: the Macroeconomic and Price Response Team, the Energy Supply and Demand Team, the Financial Stability Team, the Public Welfare and Livelihoods Team, and the Overseas Situation Management Team. Each team will be headed by a Senior Secretary-level official of the Presidential Office.

Each team leader will also oversee the operational progress of the corresponding government working-level response teams — five in total — each headed by a cabinet minister. The Presidential Situation Room will conduct a comprehensive review of the working-level teams' activities and report the findings each morning at the Daily Issues Review Meeting.

The results of these reviews will be communicated to the public on a regular basis.

Press Release translated by AI, edited by David Kendall