The South Korean Government will implement a KRW 6.1 trillion (USD 4.12 billion) cash assistance programme to support the bottom 70 per cent of income earners in the country in coping with rising oil prices as part of broader measures to tackle the economic impact of the crisis in West Asia, Yonhap News Agency reported.

According to the Yonhap News Agency, citing Finance Minister Koo Yun-cheol, authorities are preparing to release public reserves of urea and urea solution later this month to address anticipated supply shortages triggered by the ongoing regional tensions.