President Yoon Suk Yeol is set to check up on the economy and national security amid the ongoing war between Israel and the Palestinian militant group Hamas.

Senior presidential secretary for public relations Kim Eun-hye said Yoon will preside over an emergency meeting Wednesday afternoon with the ministers of foreign affairs, defense and trade and industry as well as the head of the state spy agency and first vice finance minister.

Presidential Chief of Staff Kim Dae-ki and National Security Advisor Cho Tae-yong will also attend the meeting.

At Tuesday's Cabinet meeting, Yoon called for sharp responses to external factors causing instability, forecasting that the crisis could expand to an international conflict.

He also urged officials to remain vigilant, monitor the situation in terms of the economic livelihoods and national security, and to be fully prepared for all scenarios.