SEOUL (Reuters) – South Korea’s new president Yoon Suk-yeol said on Wednesday the security situation on the Korean peninsula was “tense”, citing talk of the North’s possible nuclear test.

Yoon made the comment during a meeting with secretaries, urging officials to stay alert to better respond in such situations, according to a pool report from the South Korean presidential office.

He also said during the meeting that price growth was the biggest problem facing the economy.

“The economy is in a very difficult situation and the top problem is price growth,” he said. “We need to take a thorough review of various indicators and continue to study ways to contain prices based on analysis of sources of price growth.”