Members of the party’s Middle East crisis economic response task force said the measures aim to stabilise domestic energy supply and prices as shipments of oil and gas to South Korea have been disrupted by the regional conflict affecting the vital maritime corridor.

According to data from the Korea International Trade Association, South Korea depends heavily on energy imports, sourcing about 70% of its crude oil and roughly 20% of its liquefied natural gas (LNG) from the Middle East.

Democratic Party lawmaker Ahn Do-geol said the government would prioritise managing LNG supplies by increasing electricity production from coal and nuclear facilities while scaling back reliance on LNG-fired power generation.

Limits that capped coal power output at 80% of installed capacity will be lifted starting Monday, Ahn said. Maintenance work at six nuclear reactors will also be completed earlier than scheduled to raise the utilisation rate of nuclear plants from the high-60% range to about 80%.

The government on Friday introduced a price ceiling on gasoline of 1,724 won ($1.15) per litre, with adjustments planned every two weeks to reflect changes in global oil markets.

Ahn said gasoline and diesel prices had already declined since the cap was introduced, falling by 58 won and 77 won per litre respectively as of Sunday.

Officials said a supplementary budget would be drafted by the end of the month and submitted to parliament to cushion the economic impact of higher energy costs.

Democratic Party leader Jung Chung-rae said the party would fast-track approval of the budget within 10 days after it is submitted. The proposed spending package is expected to include compensation for refiners linked to the fuel price cap, energy vouchers for households, logistics support for exporters and expanded investment in renewable energy.

The Budget Ministry said no specific date had yet been set for the supplementary budget but that preparations were underway.

Authorities are also considering designating the Yeosu Petrochemical Complex as a special industrial crisis response zone as part of efforts to support industries affected by the energy disruption.

The meeting, opened by French President Emmanuel Macron, brings together major nuclear stakeholders including the United States and China, while Russia one of the world’s largest nuclear powers is absent following its invasion of Ukraine.

The summit takes place as global energy markets remain volatile and policymakers reconsider nuclear power’s role in reducing dependence on fossil fuels and meeting climate goals.

Civilian nuclear power faced a sharp decline in public support after the Fukushima nuclear disaster, which intensified safety concerns previously raised by the Chernobyl disaster.However, interest has revived in recent years as governments emphasise energy sovereignty and the need for stable low-carbon electricity sources.

According to the World Nuclear Association, nuclear power currently accounts for roughly nine percent of global electricity production, with about 440 reactors operating across roughly 30 countries.

According to the World Nuclear Association, nuclear power currently accounts for roughly nine percent of global electricity production, with about 440 reactors operating across roughly 30 countries.

The conference is co-sponsored by the International Atomic Energy Agency and the International Energy Agency, both of which have called for greater investment in nuclear generation.

IAEA Director General Rafael Grossi said on Monday that around 40 countries had either begun building reactors or were considering doing so.

The agency has projected that global nuclear power generation could double by 2050 if governments accelerate deployment and investment.

China continues to lead new nuclear construction. The IAEA said the country is building 29 reactors in addition to the 57 already in operation.

IEA Executive Director Fatih Birol said Europe in particular has an interest in strengthening energy sovereignty by expanding domestic clean energy capacity.

Birol said this strategy would include scaling up renewable sources such as solar and wind while also enabling what he described as a “strong comeback” for nuclear power in the global energy mix.