Iran war: South Korea aims to bypass Hormuz, send ships to Saudi port for oil

Lead

South Korea is taking steps to secure its energy supplies as the Strait of Hormuz remains effectively closed amid the US-Israeli conflict with Iran, with authorities dispatching vessels to an alternative route and sending special envoys to key oil-producing countries.

According to multiple reports, Seoul plans to send five Korean-flagged ships to the Saudi Arabian Red Sea port of Yanbu to help establish alternative supply routes that bypass the strait. The decision was confirmed by ruling party lawmaker Ahn Do-geol, who said after a meeting with government agencies that "Korean-flagged vessels need to be dispatched to alternative routes."

The move comes as oil prices have surged following US and Israeli strikes on Iran that began on February 28, raising concerns about economic growth and inflation in South Korea, which relies on Middle Eastern crude for around 70% of its imports.

Coverage comparison

Reports from Yonhap News and The Hindu describe a meeting between South Korean Finance Minister Koo Yun-cheol and ambassadors from the six Gulf Cooperation Council (GCC) countries on April 3, where Koo urged the envoys to ensure stable supplies of oil, liquefied natural gas, naphtha, urea, and other critical resources. The GCC ambassadors reportedly called South Korea a "top priority" nation and pledged close cooperation.

The Jerusalem Post and South China Morning Post highlight different aspects: the Jerusalem Post focuses on presidential chief of staff Kang Hoon-sik's planned visits to Kazakhstan, Oman, and Saudi Arabia as a special envoy, while the South China Morning Post emphasizes the fuel price cap—the first since 1997—being prepared as an emergency measure.

Key claims

South Korea's dependence on Middle Eastern oil is well-documented across multiple sources. Yonhap reports that South Korea imports about 70% of its crude oil from the Middle East, with more than 95% of those shipments transiting the Strait of Hormuz. A separate report from the Jerusalem Post cites presidential chief of staff Kang Hoon-sik as saying the country relied on the Hormuz route for about 61% of its crude oil and 54% of its naphtha imports.

The strait is a vital maritime chokepoint, through which roughly 25% to 30% of the world's crude oil and about 20% of liquefied natural gas shipments pass, according to Yonhap.

The dispatch of five vessels to Yanbu has been reported by Yonhap, the South China Morning Post, and The Hindu. Yonhap also reports that Saudi Arabia has promised to prioritize oil shipments to South Korea, a claim carried by a single outlet and attributed to Industry Minister Kim Jung-kwan.

Kang Hoon-sik's travel plans were reported by the Jerusalem Post, citing his press briefing at the presidential Blue House. The same report mentions 26 South Korean-flagged vessels waiting inside the Strait of Hormuz—a figure that has not been confirmed by other sources.

The ruling Democratic Party and government agreed to seek the dispatch of special envoys to Saudi Arabia, Oman, and Algeria, according to Yonhap. The same report says authorities are considering releasing strategic oil reserves to private refiners.

Perspectives

The US-Israeli strikes on Iran, which began on February 28, have led Tehran to effectively shut down the Strait of Hormuz, according to the South China Morning Post and The Hindu. This has driven up energy prices and stoked fears of a global recession, as noted by The Hindu.

South Korean officials are taking a multi-pronged approach. Finance Minister Koo Yun-cheol has said the government will use all available measures, including fuel tax cuts, price stabilization measures, and financing support for affected businesses. Industry Minister Kim Jung-kwan said the government is considering diversifying crude oil imports by increasing purchases from the United States and Kazakhstan.

Kim also said Saudi authorities have pledged to allocate shipments to South Korea on a priority basis, and Seoul is preparing measures to allow vessels to use the Red Sea route, including possible escort operations by the Cheonghae unit's Dae Joyoung destroyer.

Kang Hoon-sik urged households and businesses to participate in energy-saving measures to help the country weather tight supply conditions, according to the Jerusalem Post.

The situation has prompted comparisons to past crises, with the South China Morning Post noting that the fuel price cap would be the first such step since 1997.