considers

March 10 (Asia Today) — President Lee Jae-myung said Tuesday the government may prepare an early supplementary budget to cushion the economic impact of rising energy prices linked to the Middle East conflict.

Speaking at a Cabinet meeting in Seoul, Lee said additional fiscal measures could be necessary to support small businesses, struggling companies and vulnerable households if global energy shocks continue.

“To provide fiscal assistance and support for small business owners and vulnerable firms, we may inevitably need an early supplementary budget,” Lee said.

Lee also called for targeted support for lower-income households rather than a blanket reduction in fuel taxes as oil prices surge.

The president instructed officials to accelerate additional financial and fiscal measures, including a petroleum price cap system, adjustments to energy taxes and direct assistance to consumers.

“We must mobilize all national capabilities to minimize the impact of external shocks on people’s livelihoods, the economy and industry,” Lee said.

Deputy Prime Minister and Economy Minister Koo Yoon-cheol said the government could potentially finance the supplementary budget without issuing new government bonds.

He cited improving conditions in the semiconductor industry and increased fiscal resources linked to stronger activity in the stock market.

Lee also addressed concerns over reports that United States Forces Korea may remove some air defense assets from the country amid the regional conflict.

“If you ask whether this seriously undermines our deterrence strategy against North Korea, the answer is no,” Lee said.

He acknowledged that South Korea had expressed opposition to the partial withdrawal of air defense systems but noted that the United States may reposition some assets based on its broader military needs.

Foreign media have reported that systems such as the Terminal High Altitude Area Defense system and Patriot missile batteries could be redeployed.

Lee emphasized that South Korea’s defense spending remains among the highest in the world and said the country’s military readiness remains strong.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260311010002954

Mexico’s President Claudia Sheinbaum has warned she could take possible legal action following comments from right-wing tech billionaire Elon Musk, accusing her of ties to cartels.

At her morning news conference on Tuesday, the president was asked for her response to Musk’s statements a day prior. Musk had described her as being beholden to the cartels.

“Well, we are considering whether to take any legal action,” she began. “The lawyers are looking into it.”

She then proceeded to describe the allegations that she leads a “narco-government” as “absurd” and demonstrably false.

“It falls apart all on its own,” she said, dismissing the accusation as hackneyed. “They don’t even know what to invent any more, right? Honestly, it’s laughable.”

Sheinbaum has faced criticism for her national security policies following a spate of cross-country violence over the weekend.

Killing of El Mencho

The violence erupted after the death on Sunday of a top cartel leader, Nemesio Oseguera Cervantes, known by the nickname El Mencho.

The Mexican military had tracked El Mencho to the town of Tapalpa in central Mexico. He died while en route to medical care after being shot by authorities.

Members of El Mencho’s criminal organisation, the Jalisco New Generation Cartel, responded to the news of his death with road blocks, arson and clashes with security forces. Dozens of people were killed in the violence.

Musk was among the online commentators criticising Sheinbaum’s handling of Mexico’s security in the aftermath of the attacks.

His posts came in response to a video clip circulating on social media, showing Sheinbaum advocating for alternatives to the militaristic “war on drugs” approach.

“She’s just saying what her cartel bosses tell her to say,” Musk wrote in response to the video.

“Let’s just say that their punishment for disobedience is a little worse than a ‘performance improvement plan’.”

A vocal critic of left-wing governments like Sheinbaum’s, Musk is closely aligned with United States President Donald Trump, who has likewise pushed for more military action against cartels.

In September, for instance, Trump’s State Department listed Mexico as an area of concern for drug-trafficking and outlined steps it expected to see to address the issue.

“Much more remains to be done by Mexico’s government to target cartel leadership, along with their clandestine drug labs, precursor chemical supply chains, and illicit finances,” the State Department wrote.

“Over the next year, the United States will expect to see additional, aggressive efforts by Mexico to hold cartel leaders accountable and disrupt the illicit networks engaged in drug production and trafficking.”

Trump himself has accused Sheinbaum of inefficacy in her campaign to crack down on illicit drug trafficking.

“She’s not running Mexico. The cartels are running Mexico,” Trump told Fox News in the hours after launching a January 3 military operation to abduct Venezuelan President Nicolas Maduro.

“She’s very frightened of the cartels. They’re running Mexico. I’ve asked her numerous times, ‘Would you like us to take out the cartels?’”

Sheinbaum has repeatedly refused the prospect of unilateral US intervention, arguing it would violate Mexican sovereignty. Still, Trump has repeatedly warned that the US is considering military strikes on Mexican soil.

“Something’s going to have to be done with Mexico,” he told Fox News.

Upping the pressure

Sheinbaum, however, has defended her administration’s track record. Faced with US tariffs in February 2025, she deployed nearly 10,000 members of Mexico’s National Guard to the country’s northern border to crack down on fentanyl trafficking.

She has also taken targeted military actions against cartels, though she has argued that the process should be focused on prosecuting criminals, rather than killing them in law enforcement operations.

Her administration has also overseen the extradition of dozens of Mexican nationals suspected of crimes in the US. In January 2025, for instance, 37 people were sent to the US. In April and August, groups of 13 and 14 suspects were transferred, respectively.

Sunday’s capture and killing of El Mencho was the fulfilment of a decades-long goal for the Mexican government, which has long sought his arrest.

Still, on Monday, Trump briefly posted a message on his Truth Social platform indicating that he expected Sheinbaum to do more.

“Mexico must step up their effort on Cartels and Drugs,” he wrote in a post that was later removed.

Sheinbaum, meanwhile, used Tuesday’s news conference to dismiss the criticism as out of touch with what was happening in Mexico. She added that what matters to her is the opinion of the Mexican people, not Musk.

“The vast majority of people recognise the work of the armed forces and the work we are doing every day, not only in security, but for the good of the country, for the wellbeing of all Mexicans,” she said. “That is what will guide us.”