South Korean President Lee Jae Myung asserted in a Cabinet meeting on March 31 that the country requires "detailed emergency measures" to deal with difficulties arising from heavy reliance on Middle Eastern oil, adding that the constitution allowed him to issue an emergency decree, if necessary. He also stated that "Key raw materials, such as urea solution, helium and aluminum, should be strictly managed at levels equivalent to wartime supplies."

This comes after Finance Minister Koo Yun-cheol suggested on March 30 that the government could expand public sector curbs on vehicle use to the private sector if crude prices rise to around $120-130 per barrel, curbs last used during the Gulf War in 1991.