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Trade minister urges efforts to secure alternative oil, naphtha supplies amid Middle East crisis

Published: 01 Apr. 2026, 10:42

Shipping containers are stacked at Pyeongtaek Port in Gyeonggi on March 12. [YONHAP]

Trade Minister Yeo Han-koo has called for the utmost efforts to secure alternative oil and naphtha supplies to reduce uncertainty for Korean companies from supply disruptions caused by the Iran War, Yeo's office said on Wednesday.

Yeo held an emergency virtual meeting with commercial attaches and trade officials dispatched to the country's major trading partners late on Tuesday to discuss the response to the supply crisis of major industrial materials, including crude oil and naphtha, according to the Ministry of Trade, Industry and Resources.

In the meeting, Yeo urged the officials to use all available resources to secure alternative sources of such materials by strengthening their outreach to foreign governments and resource companies to reduce supply chain uncertainty for local businesses.

In a separate meeting with major business officials on Wednesday, Yeo said he has asked India, the United Arab Emirates and other countries to help Korea secure oil and naphtha supplies, according to the ministry.

Regarding the U.S. administration's trade inquiries into Korea under Section 301 of the 1974 Trade Act, the minister pledged efforts to safeguard national interests and ensure that Korea is treated no less favorably by the United States than other major economies.

The ministry announced it will continue efforts to address energy supply and other trade-related issues affecting domestic companies while expanding its trade network to help them secure new export markets and long-term growth engines.

Yonhap