South Korea Weighs Emergency Economic Decree Amid Energy Crisis Fears

"South Korea, which is highly dependent on external markets and relies heavily on energy supplies from the Middle East, requires more thorough inspections and detailed emergency measures," Lee said during a Cabinet meeting.

Lee urged all relevant ministries to closely monitor the situation and take "preemptive and bold action" to ease concerns over potential disruptions of energy supply.

"Key raw materials, such as urea solution, helium and aluminum, should be strictly managed at levels equivalent to wartime supplies," he said.

He also said, under the Constitution, an emergency economic decree could be issued if needed.

Under Article 76 of the Constitution, the president may issue an order, with the effect of an act, in times of grave financial crisis, natural calamity or internal turmoil, without waiting for the approval of the National Assembly.

His remarks are widely seen as highlighting his commitment to take bold response measures as such emergency economic orders have rarely been issued in practice. The measure was last invoked in 1993 under former President Kim Young-sam.

Lee addressed concerns over a recent shortage of standard plastic garbage bags, saying inventories remain sufficient despite public woes amid a sharp rise in polyethylene prices, a key material used to make plastic bags, Yonhap news agency reported.

"The country as a whole has sufficient inventory and raw materials," he said.

In South Korea, only garbage bags approved by public institutions can be used to dispose of general household waste under the volume-based garbage disposal system.

Lee further stressed that laws could be revised, if necessary, urging officials not to dismiss problems due to legal constraints.

"When faced with any obstacles, ministries should not struggle with them on their own but rather bring them forward to the Cabinet or the presidential office," he said. "We will resolve the problem even if emergency legislation is necessary."

- IANS