Cheong Wa Dae said on the 25th it will set up an "emergency economic situation room" to respond to energy supply disruptions and high inflation stemming from the Middle East situation. The move follows President Lee Jae-myung's order at the Cabinet meeting the previous day to prepare an "emergency response system," and the unit will operate under the emergency economic review meeting chaired by the president. Under the overall direction of Presidential Chief of Staff Kang Hoon-sik, Cheong Wa Dae senior secretaries will each lead five working response teams.
Hong Ik-pyo, Cheong Wa Dae senior secretary for political affairs, said at a Cheong Wa Dae briefing that morning, "We will establish an emergency economic situation room under the emergency economic review meeting chaired by President Lee Jae-myung, and it will be led by the chief of staff," adding, "In step with the pan-ministry emergency economic headquarters led by the Deputy Minister, we will rigorously manage domestic and international crises arising from the Middle East situation."
The emergency economic situation room, run under the leadership of the chief of staff, will have Office of National Security Director Wi Sung-lac and Policy Director Kim Yong-beom as deputy chiefs; Senior Secretary Hong as the chief coordinator; and National Situation Room Chief Kim Jeong-woo as the working-level coordinator. In particular, it will be divided into a price response team, an energy supply team, a financial stability team, a livelihood and welfare team, and an overseas situation management team, with Growth Economy Senior Secretary Ha Jun-kyung, Social Affairs Senior Secretary Moon Jin-young, and third deputy director of the Office of National Security Oh Hyun-joo serving as team heads. A Cheong Wa Dae official said the overseas situation management team will discuss energy supply measures, including crude oil and gas.
Senior Secretary Hong said, "Each team head will review the progress of the government's working-level response teams, for which Ministers serve as leads," adding, "The National Situation Room will report a comprehensive review of the working-level response teams at the morning current-affairs review meeting every day." He also said, "We will regularly brief the public on the review results."