Tensions in the Middle East escalated as Iran conducted another missile launch. In response, Israel released a new statement regarding the conflict. Meanwhile, stock markets across the Asia-Pacific region experienced a collective upswing.

During early trading on March 11, stock markets in South Korea and Japan opened higher and continued to gain. As of 8:15 AM, South Korea's KOSPI index surged over 3%, while Japan's Nikkei 225 index rose more than 2%. Additionally, Australia's S&P/ASX 200 index increased by 0.71%.

South Korea's Finance Minister stated that if necessary, the government would further expand its market stabilization package, which currently exceeds 100 trillion won.

In international oil markets, WTI crude futures turned lower during the day, now down over 1% after earlier gaining more than 6%. Reports indicate the International Energy Agency has proposed releasing over 182 million barrels from strategic petroleum reserves, which would be the largest strategic petroleum reserve release in history.

Regarding the latest developments in Iran, reports indicate that Israel's Foreign Minister stated on the 10th that Israel does not seek an "endless war" with Iran and will coordinate with the United States to decide when to end military operations against Iran at an appropriate time.

In the early hours of the 11th local time, Iran's Islamic Revolutionary Guard Corps announced the implementation of the 37th round of military operations, using missiles to strike targets including US military bases in Erbil in northern Iraq, the US Fifth Fleet, and Tel Aviv, Israel.

South Korean stocks showed significant recovery, with the KOSPI index opening up 2.3% and expanding its gains to over 3% by 8:15 AM. Among individual stocks, Mirae Asset Securities rose over 10%, while Samsung Life Insurance and Hyundai Heavy Industries Holdings gained over 7%. Hyundai Motor Company and Korea Electric Power Corporation increased over 5%, with Samsung Electronics rising nearly 3% and SK Hynix up over 2%.

On March 11, South Korea's Finance Minister stated at a meeting that the government would utilize all available policy tools, including supplementary budgets, to minimize the impact of the Middle East conflict on the South Korean economy. While closely monitoring international oil prices, the government will consider reducing fuel taxes. If any signs of economic instability appear, the government will respond swiftly and decisively. If necessary, South Korea will further expand its existing market stabilization package exceeding 100 trillion won. The government will also coordinate with the central bank to enhance market stabilization measures in a timely manner, including emergency repurchases and direct purchases of government bonds.

The previous day, the Finance Minister stated during a cabinet meeting that if needed, the government would actively consider an additional budget to provide direct support to citizens affected by rising oil prices.

The Minister noted that foreign exchange authorities would respond to exchange rate fluctuations when necessary, adding that the central bank would also address any instability factors in the bond market. Due to better-than-expected tax revenue from stock-related taxes and strong performance in the semiconductor industry, it appears possible to implement the supplementary budget without issuing government bonds.

Another South Korean official stated on Tuesday that as the Middle East conflict expands, the ruling party and government officials are considering exercising preemptive purchasing rights to acquire crude oil reserves from foreign refiners stored in South Korea, ensuring an additional supply of over 6 million barrels of crude oil.

Regarding the latest developments in Iran, reports indicate that in the early hours of the 11th local time, Iran's Islamic Revolutionary Guard Corps announced missile strikes on targets including US military bases in Erbil, the US Fifth Fleet, and Tel Aviv, Israel.

Iran's Vice President stated in a media interview on the 10th local time that Iran will continue to defend its national territory, calling this a "legitimate right and obligation." Furthermore, Iran consistently seeks to resolve the crisis through dialogue and is not attacking neighboring countries.

The Vice President mentioned that Iran's President has repeatedly emphasized resolving current issues through negotiations, and that Iran's foreign ministry has prepared multiple response plans. He stated that Iran has never aggressed against any country and always seeks to resolve crises peacefully through dialogue.

Also on the 10th, the Speaker of Iran's Parliament stated that Iran "absolutely does not seek a ceasefire" and must firmly retaliate against "aggressors." Iran's Deputy Foreign Minister stated that Iran's current priority is only "decisive defense," and that "the cessation of war is in Iran's hands."

On the 10th local time, a White House Press Secretary stated at a news conference that US military forces are progressing "far ahead of schedule" in operations against Iran. Military operations will continue until the US President determines that established military objectives have been fully achieved.

The Press Secretary stated that what the US President described as Iran's "unconditional surrender" means Iran no longer possesses the capability to pose a credible threat to the US and its allies, particularly requiring the complete degradation of its ballistic missile systems and nuclear weapons development capabilities.

Additionally, the Press Secretary stated that the US government has recently temporarily allowed India to receive some Russian oil to address short-term global supply gaps caused by the Iran situation.

Israel's Foreign Minister stated that Israel does not seek an "endless war" with Iran and will coordinate with the United States to decide when to end military operations against Iran at an appropriate time.

The Foreign Minister made these remarks during a joint press conference in Jerusalem with the visiting German Foreign Minister.

The Israeli Foreign Minister did not provide a specific timeline for current military operations. He emphasized that Israel will continue military actions until Israel and its partners deem it "appropriate to stop."

The Foreign Minister claimed that Israel's goal is to "eliminate the existential threat Iran poses to Israel in the long term," but this is difficult to achieve while Iran's current regime exists. Israel believes regime change in Iran "may occur after military operations conclude," and that current military actions aim to create conditions for regime change.

The United States and Israel launched large-scale military strikes against Iran on February 28. Iran has retaliated against targets in Israel and US military bases in the Middle East.

Additional reports indicate that on the 10th local time, an Israeli Defense Forces spokesperson stated that the military has begun a new large-scale strike operation in Tehran, targeting infrastructure related to the Iranian regime.

The Israeli Defense Forces stated that the Israeli Air Force conducted airstrikes that day on multiple military and security command centers in Tehran and Tabriz. The military stated that targets included Iranian special forces headquarters, Islamic Revolutionary Guard Corps facilities, headquarters of security units responsible for ballistic missile operations, Iranian security police headquarters, and Basij militia facilities. The military claimed that personnel were present at these locations during the attacks.