South Korea is preparing to deploy five Korean-flagged vessels to Saudi Arabia’s Red Sea port of Yanbu as part of efforts to secure alternative oil supply routes and reduce reliance on the Strait of Hormuz, according to Al Arabiya.
The move comes amid rising disruption risks in the Strait and surging oil prices linked to the ongoing US-Israeli conflict with Iran, which has raised concerns over economic growth and inflation in South Korea.
The country depends on the Middle East for around 70% of its crude oil imports, making supply diversification a priority under current conditions.
“Korean-flagged vessels need to be dispatched to alternative routes,” said lawmaker Ahn Do-geol following a meeting with government agencies, including the energy ministry.
He confirmed that plans are underway to send five vessels to Yanbu, although further operational details were not disclosed.
In parallel, South Korea is also preparing additional measures, including the potential introduction of a fuel price cap—the first such step since 1997.
Authorities are also planning to send special envoys to Saudi Arabia, Oman and Algeria to help secure additional crude supplies.
The initiative reflects growing efforts by major energy importers to adapt supply chains and mitigate risks linked to ongoing instability in the Strait of Hormuz.
