Story · South Korea
South Korea Bets on Red Sea Route as Hormuz Disruptions Persist
Since the Iran war disrupted Strait of Hormuz shipments in early March 2026, South Korea has increasingly relied on the Red Sea route and Saudi Arabia's Yanbu Port for crude oil and naphtha imports. Previously, 61% of South Korea's crude and 54% of its naphtha came via Hormuz. On July 17, 2026, South Korea's Ministry of Oceans and Fisheries announced the 14th successful crude oil shipment via the Red Sea, with a tanker loading at Yanbu and heading to Asia. The government considers this the most realistic option while Hormuz remains unstable. However, the route faces potential risk from Iran-aligned Houthis in Yemen, who are reportedly awaiting orders from Iran's IRGC to close the Bab el-Mandeb Strait and choke Red Sea exports.
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