Seoul, April 2 -- South Korean President Lee Jae Myung on Thursday called on the country's National Assembly to quickly pass a KRW 26.2 trillion (approximately USD 17.1 billion) supplementary budget, aimed at cushioning the economic impact of the ongoing conflict in the Middle East, Yonhap News Agency reported.

According to the Yonhap News Agency, during the budget address, Lee described the situation as an "unexpected, multifaceted crisis" as the US-led war involving Iran enters its second month, stressing that extraordinary steps are necessary to stabilise the economy.

"The government recognises the current situation as a wartime-level crisis for the people's economy and is mobilising all available resources to overcome it," he said, ...