Post #5922

🇰🇷🇸🇦Saudi Arabia Pledges Priority Oil Shipments to Seoul Saudi Arabia has committed to allocating oil shipments to South Korea on a priority basis, Industry Minister Kim Jung-kwan said on April 12. Seoul is working to dispatch five Korean-flagged vessels to the Saudi Red Sea port of Yanbu to establish alternative supply routes after the Strait of Hormuz was effectively closed amid the Middle East conflict. Kim said the government is preparing to allow South Korean vessels to use the Red Sea route, including the possible deployment of the Cheonghae unit's Dae Joyoung destroyer for escort operations. The ministry is also considering increasing crude oil purchases from the United States and Kazakhstan to diversify import sources. Oil prices rose following US-Israeli strikes on Iran in late February, adding pressure on South Korea's economy given its heavy reliance on Middle East energy supplies. Kim described securing energy resources as a priority alongside economic considerations. #SouthKorea#SaudiArabia @asianomics