South Korea cuts fuel use as war hits economy, launches measures amid energy crisis

South Korea’s Prime Minister Kim Min-seok has cancelled a planned trip to China to address mounting economic concerns at home linked to the fallout from the Iran war, local media reported.

The move comes as rising energy costs and supply disruptions weigh heavily on the country’s economy.

President Lee Jae Myung said public institutions will reduce car use as part of an energy-saving campaign and urged lawmakers to pass a supplementary budget.

South Korea, which imports more than 70 percent of its oil from the Middle East, has also introduced fuel price caps to stabilise markets.