Kang Hoon-sik, Presidential Chief of Staff, will visit three countries — Kazakhstan, Oman, and Saudi Arabia — to secure crude oil supplies as energy supply concerns grow amid the prolonged conflict in the Middle East. Kim Jeong-gwan, Minister of Trade, Industry and Energy, and domestic energy companies will also join the special envoy delegation to explore a mid- to long-term restructuring of oil supply chains that bypass the Strait of Hormuz.
"I plan to depart this evening as a presidential special envoy for strategic economic cooperation," Kang said at a press briefing on the Middle East situation held at the Chunchugwan press center at the Presidential Office on the 7th. "We will spare no support to ensure that high-level consultations do not end as empty talk," he added.
The delegation's visit to Saudi Arabia is seen as significant for securing supply volumes through Yanbu Port on the Red Sea, while Oman serves to diversify shipping route risks and Kazakhstan to diversify supply sources. "April crude oil import volumes have been secured at 59% of the year-earlier level, and May at 69%," Kang said. "Additional procurement is continuing as well."
Regarding the 26 Korean ships stranded near the Strait of Hormuz, Kang said crew safety is the top priority. "We want to pull them out swiftly, but we must be cautious as they could be consumed by Iran's strategy," he said. "Engaging in a one-on-one deal with Iran is a dangerous idea," he added, emphasizing a prudent approach.