Finance Ministry convenes emergency global attaché meeting to map post-Middle East war strategy

South Korea's government convened an emergency video conference of its overseas finance attachés Wednesday to assess the rapidly shifting international economic landscape following the US-Iran ceasefire agreement.

With supply chains, energy markets and economic security strategies among major economies expected to undergo structural realignment in the wake of the Middle East war, the government said it would closely analyze policy shifts in key countries and draw up plans to expand economic cooperation with the region.

The Ministry of Economy and Finance said Second Vice Minister Heo Jang chaired the video conference at the Government Seoul Complex on Wednesday.

Finance attachés from 16 missions across 14 countries attended, including the United States, China (Beijing and Shanghai), Hong Kong, Japan, the United Kingdom, France and Germany. Finance attachés support fiscal, economic and financial cooperation with host governments and international organizations, and monitor major policy developments.

The meeting was called to assess how the changing Middle East situation and the reshaping of the international order following the US-Iran ceasefire could affect the South Korean economy, and to share response strategies being adopted by major countries.

Attachés reported that despite the ceasefire agreement, geopolitical uncertainty remains, and that major economies are recalibrating their strategies across a range of areas — including supply chain stabilization, inflation management, energy security and economic security policy.

"The policy responses of major countries after the Middle East war are likely to go beyond short-term adjustments and lead to structural changes across economic security, supply chains and energy strategy as a whole," Heo said.

He added that the government was pursuing expanded infrastructure cooperation with the Middle East, strengthening supply chain resilience and advancing strategic economic cooperation initiatives in preparation for the post-Middle East war era.

Heo also urged the attachés not to limit their analysis to tracking policy trends, but to examine the structural impact those changes could have on South Korea's external economic environment.