President Lee Jae-myung returned to Korea through Seoul Air Base on the night of the 4th after completing a four-day, three-night tour of Singapore and the Philippines.
Returning late that night, the president is set to preside over an extraordinary Cabinet meeting on the morning of the 5th to review the situation related to the United States, Israel, and the Iran war.
At the extraordinary Cabinet meeting, the Ministry of Finance and Economy and the Ministry of Foreign Affairs were said to plan to report on the Middle East situation and the impact on the global economy and discuss response measures.
Discussions are expected to include ways to minimize the war's impact on the Korean economy, including energy supplies such as crude oil and liquefied natural gas (LNG), and to ensure the safety of Korean residents overseas.
With the Korea Composite Stock Price Index (KOSPI) plunging for two straight days, measures to stabilize the stock market are also needed.
The president was also said to have kept abreast of developments during the trip, receiving frequent briefings from Office of National Security Director Wi Sung-lac.
In addition, the president is expected to review pending domestic issues, including follow-up measures on the three judicial reform bills passed by the National Assembly, stabilizing home prices in the Seoul metropolitan area, and administrative integration of metropolitan local governments.