President Lee Jae-myung, on a state visit to Brazil, said on the 26th that "the Middle East situation has become unstable again, causing international oil prices to fluctuate," and instructed officials to "maintain the oil price cap and preserve fuel tax cut policy measures to the fullest until fuel price instability is resolved." Lee added, "If the situation worsens, we must also actively review additional measures to ease the difficulties facing people's livelihoods."
Lee held a video chief secretaries' meeting with Cheong Wa Dae aides in Seoul from Brasilia, the Brazilian capital, to address the deterioration of people's livelihoods stemming from the Middle East. While carrying out his state visit to Brazil at the invitation of President Luiz Inacio Lula da Silva from that day through the 29th, he signaled his intent to fill any gaps in domestic livelihood economy matters.
"Given that oil price volatility is likely to continue for some time, we must make preemptive efforts to minimize the impact on domestic prices," Lee said. "We must also continue to pursue measures to ease the burden on groups highly dependent on diesel, such as truck and construction machinery drivers, farmers and fishermen, and mobile workers."
Lee then took direct aim at oil refiners that were caught engaging in collusion worth tens of trillions of won during this Middle East war. "We must also firmly punish behavior that exploits a time of hardship for everyone to pursue illegal profits," Lee said. "I hope relevant authorities will do their utmost to crack down on market-disrupting activities so that cases such as hoarding and collusion do not occur, not only in oil but also in other essential livelihood items."
Preparing for the heat wave following the monsoon season, Lee said "it is important to look at people's lives in concrete detail," listing in turn "residents of tiny rented rooms enduring the heat without proper cooling devices, ordinary citizens who worry about buying side dishes before even thinking of a vacation amid soaring prices, young people sweating at this very moment to break through the narrow gates of employment, mobile workers who must run across scorching asphalt in the heat for their families, and neighborhood shop owners who open their stores while cutting back on sleep to sell even one more item." He added, "My government and I will devote our full strength at every moment so that all citizens can hold on to the hope that even if today is hard, tomorrow will be better."
