South Korea PM cancels China trip as energy concerns mount

He cited an urgent need to remain at home to manage the widening economic and livelihood impacts of the Iran war. Read more at straitstimes.com.

SEOUL – South Korea’s Prime Minister Kim Min-seok called off his planned visit to China this week, citing an urgent need to remain at home to manage the widening economic and livelihood impacts of the Iran war.

The decision is intended to allow the prime minister to “directly oversee emergency economic response efforts and ensure swift decision-making during the current crisis,” Mr Kim’s office told Bloomberg News in a text message on March 24. 

South Korea announced plans to restrict vehicle usage in the public sector, with limits on how often people can drive their vehicles based on plate numbers.

The government plans to expand the restrictions to the private sector if the energy supply situation worsens.

“Concerns over the supply of crude oil and natural gas are increasing due to the escalating and prolonged war in the Middle East,” President Lee Jae Myung said at a Cabinet meeting on March 24.

“To prepare for a potential crisis affecting people’s livelihoods, the economy, and industry as a whole, the government must proactively activate an emergency response system,” the president said.