South Korea Prepares Steps to Deal with Prolonged Energy Crisis

South Korean President Lee Jae Myung/PHOTO Republic of Korea

JAKARTA - South Korean President Lee Jae Myung stressed the need for preparations for a protracted conflict in the Middle East and anticipatory measures if oil prices rise again.

"Now we need to develop measures assuming a prolonged situation, including the worst-case scenario," Lee said at a government meeting on Tuesday, March 17, reported by ANTARA from Yonhap-OANA.

He said that if the current dynamics continue, the recently stable oil prices could rise again, thus increasing pressure on the economy and living standards.

Lee ordered South Korean officials to use diplomatic channels to ensure a stable supply of alternative energy.

South Korea had previously taken a similar step by importing additional oil from the United Arab Emirates, he said.

Lee also called for national energy conservation preparations that could include restrictions on car use, such as a five- or 10-day system.

Authorities could consider imposing export controls and energy emergency status, including increasing production at nuclear power plants, if needed.

"As a medium-term measure, it is necessary to switch from a fossil fuel-based energy system to a renewable energy system as soon as possible," Lee said.

He also highlighted the social risks of a prolonged crisis that could burden vulnerable groups and encourage others to seek profit.

He urged the rapid preparation of additional budgets to support vulnerable groups and exporters.