Middle East tensions raise energy concerns for S. Korea

Описание: 이란 호르무즈 봉쇄 우려에 '비상' "韓 원유 70% 중동 의존"

Tensions in the Middle East are sparking concerns over potential energy disruptions and the impact on South Korea’s economy.
Officials say contingency plans are in place and that they are moving swiftly to respond.
Kim Jun-hong has more.

Warnings from Iran telling vessels not to enter the Strait of Hormuz have raised concerns for import-dependent economies.
South Korea relies on the Middle East for over 70 percent of its crude oil and around 20 percent of its LNG, making it particularly vulnerable to any disruption.
The closure would force tankers to take alternate, longer routes, raising shipping costs and causing delivery delays, while experts warn oil prices could climb as high as 100 U.S. dollars a barrel.
That would drive up costs for key industries in South Korea, while adding to inflationary pressure and weighing on exports tied to the Middle East.

In response, the government has stepped up emergency checks as tensions in the Middle East escalate.
The Ministry of Trade, Industry and Resources held an interagency meeting Monday, warning that global oil and gas prices could remain volatile, but stressed the country is prepared for a prolonged crisis.

"We have stockpiles covering 208 days of crude oil and refined products, and we are confident that supply can be maintained even if the situation becomes prolonged."

The presidential office also moved to calm public concerns.
Speaking to reporters during a visit to Singapore, top security advisor Wi Sung-lac said there was no need for undue alarm.

"We are thoroughly prepared across all areas, including the real economy, financial markets and national security and the presidential office is maintaining an emergency response mode."

He added that the situation remains in its early stages and that the government will keep a close watch while preparing measures for a range of possible outcomes.
Kim Jun-hong, Arirang News.

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2026-03-03, 10:00 (KST)