As the Strait of Hormuz blockade drags on, the South Korean government has elevated its crude oil resource security crisis warning from "caution" to "alert." Starting next week, the government will significantly tighten mandatory vehicle restrictions at public agencies from a one-in-five ban to an odd-even system and impose a one-in-five driving ban at approximately 30,000 public parking lots nationwide.
The Ministry of Trade, Industry and Energy announced on the 1st that it would raise the oil crisis alert to "alert," the third of four levels, and upgrade the natural gas crisis warning from "interest" to "caution," both effective midnight on the 2nd. The resource security crisis warning system operates on four tiers — interest, caution, alert, and severe. The ministry determined that the third-level threshold had been met after crude oil shipments through the Strait of Hormuz were halted for more than 10 days, following the last tanker that passed through the strait before the blockade arriving in Korea on the 20th of last month.
The natural gas alert was raised because rising international prices could affect electricity and heating bills.
Accordingly, the Ministry of Climate, Energy and Environment decided to introduce an odd-even driving system for public agencies starting the 8th. Vehicles with odd-numbered final digits on license plates will be allowed to operate only on odd-numbered dates, and those with even-numbered final digits only on even-numbered dates. A one-in-five system will apply to civilian vehicles visiting public agencies. The government also plans to enforce the one-in-five driving restriction at approximately 30,000 on-street and off-street paid parking lots (1 million spaces) operated by local governments and other public institutions. The Ministry of Land, Infrastructure and Transport said it would pursue measures to ease the burden of transportation costs.
