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Gov't to prepare more measures to ease consumption strain amid Middle East tensions: Finance chief

Published: 03 Apr. 2026, 11:39

Finance Minister Koo Yun-cheol, center, speaks at a ministerial meeting held at the government complex in Seoul on April 3. [YONHAP]

The government will introduce additional measures to address potential constraints on consumption stemming from recent energy-saving efforts amid the crisis in the Middle East, Finance Minister Koo Yun-cheol said Friday.

Koo made the remarks while presiding over a ministerial meeting, as the Strait of Hormuz has effectively been closed since U.S. and Israeli strikes on Iran in late February, disrupting fuel supplies. Korea relies heavily on imports for energy.

"We will swiftly prepare supplementary measures to respond to the impact of the Middle East conflict and possible restrictions on consumption due to energy conservation," Koo said.

The government has rolled out various measures amid the energy crunch, such as a fuel price cap and restrictions on vehicle use in the public sector.

Koo added that the government will closely monitor key supply chains and inflation-related items affected by the conflict by assigning officials to oversee each category on a daily basis.

"Relevant ministers will share the situation in real time through a hotline and respond in a bold and swift manner," he said.

The government will also devise additional measures to address potential supply shortages of naphtha, as domestic disruptions have intensified following U.S. and Israeli airstrikes on Iran. Naphtha is a key feedstock widely used in petrochemical and other industries.

Yonhap