US EditionSouth Korea on Alert: Middle East Tensions Threaten Trade
5 Articles
5 Articles
Heightening tensions in Middle East to create repercussions for Korean industries
Concerns are growing in Korea’s industrial sector over the repercussions from the heightening tensions in the Middle East, after Iran’s parliament approved a motion to block the Strait of Hormuz in response to a U.S. mainland airstrike. Rising oil and logistics prices and other supply chain disruptions are feared to add more uncertainties to Seoul’s export-driven economy. According to government officials Monday, approximately 70 percent of Kore…
South Korea on Alert: Middle East Tensions Threaten Trade
South Korea expresses concern over the impact of U.S. strikes on Iran, highlighting the potential disruption to its trade. The nation, heavily reliant on Middle Eastern crude imports, faces economic challenges due to rising oil prices and geopolitical uncertainties. South Korea's government closely monitors the situation.
[Digital Daily Reporter Kim Moon-ki] The Ministry of Trade, Industry and Energy held an emergency situation review meeting for the energy, trade and supply chain sectors to urgently review the heightened situation in the Middle East following the US bombing of Iran’s nuclear facilities, and began analyzing local trends, supply and demand, and export impacts. On the afternoon of the 22nd, the Ministry of Trade, Industry and Energy held an emergen…
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