South Korea nears Kazakh oil deal to diversify energy amid Middle East turmoil
TL;DR Summary
South Korea is close to securing crude oil imports from Kazakhstan to diversify its energy supplies as Middle East tensions disrupt shipping; Industry Minister Kim Jung-kwan said amounts and details could be announced early next week after a high-level visit with presidential chief of staff Kang Hoon-sik; Kazakhstan shipments would take about 50–60 days, similar to shipments from the U.S., and Seoul had already secured a UAE pledge for 24 million barrels last month, underscoring Korea’s heavy dependence on the Middle East (about 70% of oil purchases).
- South Korea close to securing oil supplies from Kazakhstan, minister says Reuters
- South Korea to Send Envoy to Iran as Hormuz Remains Blocked Bloomberg.com
- South Korea asks Gulf nations for steady energy supply, safety of Korean vessels Yahoo Finance
- South Korea, Seeking Hormuz Alternative, May Deploy Vessels to Red Sea WSJ
- South Korea to push for the release of ships in the Strait of Hormuz WTAQ
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