Seoul, South Korea: South Korea announced plans to deploy five Korean-flagged ships to the Saudi Arabian Red Sea port of Yanbu to establish alternative crude oil supply routes, circumventing the Strait of Hormuz, currently disrupted due to Iranian retaliation against US-Israeli strikes.
Lawmaker Ahn Do-geol confirmed the measure Monday after a meeting with government agencies, including the Ministry of Energy, saying:
“Korean-flagged vessels need to be dispatched to alternative routes to secure crude supplies using export routes that bypass the Strait of Hormuz. We are pushing to deploy five South Korean-flagged vessels to Yanbu port in the Red Sea region.”
Seoul is also sending special envoys to Saudi Arabia, Oman, and Algeria to negotiate additional crude supplies.
Economic and Energy Context
South Korea depends on Middle Eastern crude for around 70% of its oil imports, making it highly vulnerable to disruptions in the Strait of Hormuz, a critical global shipping chokepoint.
The current closure of the Strait has caused oil prices to surge, raising inflation and growth risks for the South Korean economy. In response, the government has proposed a $17.2 billion supplementary budget and issued public energy conservation guidelines, including reducing shower times and charging devices during the day.
President Lee Jae Myung emphasized the severity of the situation, saying the nation is effectively on a “wartime footing” as it implements emergency energy measures.
Global Significance
The move highlights South Korea’s urgent strategy to diversify oil supply routes amid the escalating US-Israeli-Iran conflict, which has disrupted one of the world’s most vital maritime trade corridors. The Red Sea alternative ensures continued energy inflows while reducing exposure to the volatile Gulf region.
