🇰🇷S. Korea to Recover 90% of Naphtha Supply in May
South Korea expects to secure up to 90% of pre-Iran war naphtha volumes for May, with major petrochemical firms lifting plant utilisation rates. Yeochun NCC, which had declared force majeure on some products, raised operations to 65% from 55% on April 1; Korea Petrochemical Ind. moved from 62% to 72% over the same period.
Seoul has committed ₩674.4bn ($457mn) to subsidise up to 50% of the price gap between pre-war and current naphtha import costs for April–June. It has also locked in 2.1mn tonnes of alternative naphtha from four Middle Eastern suppliers — including Oman and Saudi Arabia — equivalent to roughly one month of national demand. A parallel crude oil swap system, drawing on state strategic reserves, has processed deals for ~14mn barrels with a further 16.5mn barrels targeted for May.
The swap mechanism, initially set to run through end-May, is under review for extension given the prolonged Middle East conflict and high private-sector uptake.
#SouthKorea#MiddleEast
@asianomics
🇰🇷S. Korea to Recover 90% of Naphtha Supply in May
South Korea expects to secure up to 90% of pre-Iran war naphtha volumes for May, with major petrochemical firms lifting plant utilisation rates. Yeochun NCC, which had declared force majeure on some products, raised operations to 65% from 55% on April 1; Korea Petrochemical Ind. moved from 62% to 72% over the same period.
Seoul has committed ₩674.4bn ($457mn) to subsidise up to 50% of the price gap between pre-war and current naphtha import costs for April–June. It has also locked in 2.1mn tonnes of alternative naphtha from four Middle Eastern suppliers — including Oman and Saudi Arabia — equivalent to roughly one month of national demand. A parallel crude oil swap system, drawing on state strategic reserves, has processed deals for ~14mn barrels with a further 16.5mn barrels targeted for May.
The swap mechanism, initially set to run through end-May, is under review for extension given the prolonged Middle East conflict and high private-sector uptake.
#SouthKorea#MiddleEast
@asianomics
#SouthKorea: Donald Trump ha accusato il Governo sudcoreano di non rispettare gli accordi commerciali intrapresi con gli Stati Uniti e per questo imporrà dazi del 25% sul Paese.
❗️Il presidente sudcoreano dichiara la legge marziale
- Martedì il presidente Yoon Suk Yeol ha imposto la legge marziale d'emergenza, accusando l'opposizione di essere simpatizzante del Nord e di condurre attività "anti-stato".
- Ha promesso di "eliminare le forze anti-stato il più rapidamente possibile e di normalizzare il Paese".
- Gli eventi seguono il tentativo dell'opposizione di mettere sotto accusa diversi procuratori e il rifiuto della proposta di bilancio del governo.
- Il leader del Partito Democratico di Corea, all'opposizione, Toburo Lee Jae Myung, ha definito "incostituzionale" la decisione del presidente di dichiarare la legge marziale.
- Il leader del partito conservatore People Power Party del presidente Yoon, Han Dong-hoon, ha definito "sbagliata" la decisione di imporre la legge marziale e ha promesso di "fermarla insieme al popolo".
#SouthKorea
🇰🇷#SouthKorea: Footage from yesterday’s training shows the ROK Army’s 1st Air Defense Brigade (Capital Defence Command) conducting low-altitude air defence drills over Seoul.
The brigade is tasked with shielding the capital from aerial threats, operating a network of urban and mountain air defense sites equipped with KM167A3 Vulcan systems, K30W Chunho SPAAGs, and Chiron (KP-SAM) missile teams.
🇰🇷South Korea Eyes Suicide Drones at Battalion Level
The South Korean Army is reviewing deployment of loitering munitions down to battalion-level units and below, alongside a plan to field over 50,000 operational drones by 2029 and introduce 11,000 training drones this year. Army Chief of Staff Gen. Kim Gyu-ha framed the shift as foundational — comparing drone access to personal firearms for all combatants.
The push falls under the Army TIGER initiative, launched in 2018 to build manned-unmanned teaming systems capable of multi-domain operations, with full transformation of Army units targeted by 2040. Separately, Defense Minister Ahn Gyu-back has disclosed plans to cut border unit troop strength from 22,000 to 6,000 by 2040, replacing personnel with AI-powered surveillance — a move that has raised concerns over potential gaps in coverage.
The combined trajectory points to a structural reorientation of South Korea's ground forces away from manpower-intensive deployment toward autonomous and remotely operated systems.
#SouthKorea
@asianomics
🇰🇷South Korea Breaks Ground on Second Combat Support Ship
A steel-cutting ceremony was held at Hanwha Ocean's shipyard in Geoje on April 29, marking the start of construction on South Korea's second auxiliary oil, ammunition and equipment ship (AOE-II), as reported by DAPA. The program, valued at ₩531.5 billion (~$360 million), was launched in 2024 as a follow-on to the 10,000-ton logistics vessel Soyang, commissioned in 2018. The new ship will feature a domestically-developed integrated engineering control system managing propulsion, power, and auxiliary systems through a single network.
The vessel reflects a broader push to deepen South Korea's naval logistics capacity, with upgraded surveillance, noise reduction, and improved crew systems built in from the design stage. DAPA explicitly framed the program as a platform to expand South Korean shipbuilding export opportunities, including in maintenance, repair and overhaul (MRO) — a sector where Korean yards are actively competing for international contracts.
The AOE-II program positions Hanwha Ocean as a key node in South Korea's defense-industrial base, reinforcing the dual civil-military shipbuilding model Seoul has been scaling.
#SouthKorea
@asianomics
🇰🇷South Korea Exports Rise 11th Straight Month
A Reuters poll projects South Korean exports rose sharply again in April, marking an 11th consecutive month of growth. The expansion is driven by a surge in semiconductor demand tied to AI investment.
Chip strength is absorbing headwinds from the Middle East conflict, which would otherwise weigh on trade flows. The poll result points to sustained outperformance in South Korea's export sector despite external shocks.
Continued AI-driven chip demand positions South Korea's semiconductor exporters as a primary beneficiary of global technology investment cycles.
#SouthKorea
@asianomics
🇰🇷Seoul Probes Four Firms for Syringe Hoarding
South Korean police on April 28 announced they are investigating four medical device distributors suspected of violating a national ban on syringe stockpiling, following a complaint by the food and drug safety ministry. The ban, imposed in April, prohibits companies from holding more than 150% of average monthly 2025 sales volumes in syringes and needles for five or more consecutive days.
The supply crunch traces to US-Israeli strikes on Iran and the near-closure of the Strait of Hormuz, which disrupted naphtha shipments — a petrochemical feedstock essential for producing plastic medical components. The disruption has cascaded across Asia's petrochemical sector, forcing governments to intervene as firms reportedly exploited shortages by stockpiling and reselling at inflated prices.
The Seoul Metropolitan Police Agency vowed to expand inspections across the full supply chain to deter further violations.
#SouthKorea
@asianomics
🇰🇷SK Hynix hits record high on AI demand revival
Shares in SK Hynix — Nvidia's chip supplier — rallied more than 7% to a record high on Monday, outpacing Samsung's 2.5% gain on the same session. The move followed Intel's earnings results, which rekindled expectations around artificial intelligence demand.
SK Hynix's outperformance over Samsung reflects its closer positioning in the AI chip supply chain, particularly through its high-bandwidth memory supply to Nvidia. Intel's results served as a demand signal for the broader semiconductor sector.
The divergence between SK Hynix and Samsung may reinforce investor preference for AI-exposed chipmakers over broader memory plays.
#SouthKorea
@asianomics
🇰🇷South Korea Runs Weeklong Amphibious Assault Drills
South Korea's Navy and Marine Corps launched a weeklong amphibious landing exercise in Pohang, deploying 3,200 troops through April 27. Assets include KF-16 fighters, P-8A maritime surveillance aircraft, ~20 naval vessels, and the ROKS Marado amphibious assault ship. The "decisive action" phase involved coastal assaults supported by landing ships, transport aircraft, attack helicopters, and naval warships.
For the first time, first-person view drones were used to collect real-time intelligence during special operations infiltration missions. A New Zealand army platoon was embedded with a South Korean Marine landing unit — also a first — while a U.S. 7th Fleet team participated in Marine warfare drills. The exercise reflects an expanding integration of manned-unmanned teaming into standard amphibious doctrine.
Multilateral participation signals ongoing effort to deepen interoperability across Pacific partners within a shared amphibious warfare framework.
#SouthKorea
@asianomics
🇰🇷IAEA Chief Arrives in Seoul for Consultations
IAEA Director General Rafael Grossi arrived at Incheon airport on April 14, 2026, for meetings with South Korean officials. The visit includes consultations with Foreign Minister Cho Hyun.
The agenda covers nuclear energy, North Korea, and other issues. No further details on the specific topics or expected outcomes were provided.
The visit is part of ongoing diplomatic engagement between the IAEA and South Korean authorities on the peninsula's nuclear-related matters.
#SouthKorea
@asianomics
🇰🇷🇺🇸NATO Envoys Visit Seoul for Defense Talks
A delegation of envoys representing 30 NATO member countries will visit Seoul for three days through Wednesday to discuss defense industry cooperation, North Korea, and other shared security issues. South Korea's Foreign Ministry confirmed the visit on Monday.
Foreign Minister Cho Hyun is scheduled to meet the delegation on Tuesday, followed by a briefing from Vice Foreign Minister Jeong Yeon-doo. Cho will also host a dinner reception for the visiting envoys.
The delegation plans to visit a South Korean industrial site to observe defense-related capabilities of local companies. A ministry official noted that 30 envoys attending marks the highest such participation to date, reflecting growing NATO interest in Korean Peninsula and Indo-Pacific affairs.
#SouthKorea
@asianomics