South Korea warns Hormuz tensions to prolong energy and supply shocks

South Korea’s president has warned that escalating tensions around the Strait of Hormuz will continue to disrupt global energy flows and supply chains.

Lee Jae Myung told a cabinet meeting on Tuesday that prolonged instability in oil and raw materials markets should be treated as inevitable.

"For the time being, difficulties in global energy and raw materials supply chains and high oil prices will continue," Lee said.

He called for urgent action to diversify supply routes and accelerate industrial restructuring.

"I ask that we pursue the development of alternative supply chains, medium- to long-term industrial restructuring, and the transition to a post-plastic economy as top-priority national strategic projects."