Seoul, April 2, 2026 (AFP) - South Korea president says economy on 'wartime footing' over Iran war

NAMPA / AFP

2026-04-02

South Korea's economy is on a "wartime footing" over the Iran war, President Lee Jae Myung said Thursday, after the government proposed a $17.2 billion supplementary budget to tackle the crisis. Oil prices have surged amid the US-Israeli war on Iran, raising growth and inflation risks for South Korea, which is heavily reliant on Middle Eastern crude for around 70 percent of its imports. "Our government is treating the economy as being on a wartim......

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