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South Korean Finance Minister Koo Yun-cheol met with envoys from Gulf countries to shore up vigor information and the safety of Korean vessels adjacent the Strait of Hormuz, the Ministry said connected Sunday (April 5, 2026), arsenic the escalating Iran warfare disrupts shipping.
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In the gathering connected Friday (April 3), Mr. Koo asked the Gulf Cooperation Council ambassadors to guarantee a dependable supply of oil, liquefied earthy gas, naphtha, urea and different captious resources, and to guarantee the safety of Korean vessels and unit adjacent the captious strait, the Ministry said successful a statement.
The envoys said South Korea is a "top priority" federation and pledged to pass intimately with Seoul to guarantee unchangeable supply, the connection said.
Like different Asian economies, South Korea relies heavy connected vigor imports, including done the Strait of Hormuz, which was a conduit for 20% of the world's lipid earlier the U.S. and Israel launched the warfare connected February 28. Iran has since efficaciously unopen down the waterway, driving up vigor prices and stoking fears of a planetary recession.
The six GCC subordinate states are Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain.
