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SEOUL, March 25 (AJP) - An emergency task force will be set up within Cheong Wa Dae to respond to potential economic shocks as the conflict in the Middle East drags on with no clear end in sight.

During a press briefing at Cheong Wa Dae in central Seoul on Wednesday, Hong Ik-pyo, senior presidential secretary for political affairs, said the emergency situation room, led by presidential chief of staff Kang Hoon-sik, will be created, separately from the existing government-wide emergency unit headed by Prime Minister Kim Min-seok.

Hong said the new body is intended for crisis management in response to domestic and international developments related to the prolonged conflict in the Middle East, which began with U.S.-led airstrikes on Iran late last month.

It will be divided into five working-level groups to preemptively respond to potential economic emergencies, with senior presidential secretaries responsible for each group. Each group will be assigned to specific areas including macroeconomics, energy supply, financial stability, public welfare and overseas emergencies, and will be required to submit daily monitoring reports. Their findings will also be regularly disclosed to the public.

Meanwhile, Hong said details of a supplementary budget to support those affected by energy supply disruptions and others will be finalized at a regular Cabinet meeting next week, though they remain subject to change depending on preparations by fiscal authorities.
Jun Sung-min 기자 ball@ajunews.com

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