Acting Finance Minister Lee Hyoung-il presides over a meeting on macroeconomic trends and risks at the government complex in Seoul on Monday. (Yonhap)
Acting Finance Minister Lee Hyoung-il on Monday warned of heightened volatility in global financial and energy markets amid escalating tensions in the Middle East.
Lee made the remarks while presiding over a meeting on macroeconomic trends and risks, citing growing uncertainty after the US military involvement in the region.
“Following the US airstrikes, Iran’s parliament passed a motion to close the Strait of Hormuz, highlighting the significant uncertainty surrounding the situation,” Lee said. “Global oil prices have already opened 2 to 3 percent higher today, signaling increased volatility in international energy markets.”
Lee instructed related agencies to stay on high alert and closely monitor international energy…
