South Korea's Lee calls for more active response to energy crisis

South Korea plans to respond more vigorously to the energy supply situation stemming from the war in Iran and may consider emergency fiscal measures, President Lee Jae Myung said on Tuesday (March 31).

Lee said the current crisis gripping the world could be an opportunity for South Korea to transition to a more sustainable energy policy, including a swifter push to increase the use of renewables.

Lee said the constitution allows the government to deploy emergency fiscal orders in a crisis situation.

The South Korean government has put a cap on fuel prices and restricted the export of naphtha following the disruption of supplies from the Middle East, from which it sources 70% of its oil.

Production: Yunji Ha, Minwoo Park/Reuters