South Korean Presidential Chief of Staff Visits Middle East to Secure Energy Supply

Yonhap News Agency reported that Kang Hoon-sik stated that this trip will be accompanied by Minister of Trade, Industry and Energy Kim Jung-kwan and relevant personnel from domestic energy companies, heading to Kazakhstan, Oman, and Saudi Arabia to negotiate solutions for securing crude oil and naphtha. Kang Hoon-sik pointed out, 'The Korean economy is indeed highly dependent on crude oil and naphtha from the Middle East.'

Kang Hoon-sik mentioned that an agreement was reached with the United Arab Emirates in March to prioritize the supply of 24 million barrels of crude oil, and in fact, crude oil and naphtha from the UAE are successively arriving at Korean ports.

However, Kang Hoon-sik also admitted, 'We have entered a stage where energy insecurity is becoming long-term. The 24 million barrels of crude oil secured from the UAE are also to alleviate short-term insecurity, and this trip abroad is for long-term 대응.' He also emphasized, 'Even if we only bring back one barrel of crude oil or one ton of naphtha, we must go and strive for it.'

Kang Hoon-sik also explained that during the emergency economic meeting, the government has introduced a 'real-time signal system' to monitor 70 to 80 items such as paint, garbage bags, urea water, and concrete. If a warning signal appears yellow, it is severe, then orange. Kang Hoon-sik said, 'Once an anomaly is found, we will comprehensively review alternative supply sources and the possibility of easing regulations.'

Regarding Iran dividing countries into friendly, neutral, and hostile zones, Kang Hoon-sik pointed out that after a phone call between the Korean and Iranian foreign ministers, it has been confirmed that Korea is not a hostile country. However, Kang Hoon-sik also admitted, 'This does not mean we are a cooperative country. Although we hope to smoothly evacuate our ships (from the Strait of Hormuz), there are indeed difficulties under the international situation.' Currently, 26 Korean ships are still stranded near the Strait of Hormuz. (Edited by Wei Shu)1150407