Korea secures 273 millions barrels of crude oil: Presidential aide

Korea has secured 273 million barrels of crude oil by the end of this year from four Middle Eastern nations, presidential chief of staff Kang Hoon-sik said on Wednesday.

2026-04-15

Korea looks to scale up oil storage capacity as Middle East producers seek hedge

Korea is moving to expand its strategic oil storage capacity as prolonged disruptions around the Strait of Hormuz are prompting a surge of inquiries from oil-exporting nations seeking to use Korea’s storage facilities.

2026-04-14

Why can't Korea kick its Middle Eastern oil habit and buy American instead?

While U.S. President Donald Trump touts American crude as an alternative for allies facing Iran-linked supply disruptions, the idea can sound fanciful — nowhere more so than in Korea.

2026-04-13

Korea tightens car-use restrictions as gov't declares oil security ‘alert’

Korea will elevate its resource security status for crude oil to “alert” starting 12 a.m. Thursday — the third-highest level in the country's four-tier system — as the war in the Middle East continues to strain global supply channels.

2026-04-01

Korea to deploy 20 million barrels of Middle East crude through swap, delays urea measures

Korea is moving to release 20 million barrels of Middle Eastern crude from its strategic reserves and distribute them to local refiners under a swap arrangement that is expected to help sustain supply through the end of June.

2026-03-31

U.S. crude oil futures rise over $2 as widening Middle East conflict raises supply concerns

U.S. crude futures rose more than $2 in early Asia trade on Tuesday as the Middle East conflict deepened, raising supply concerns, while U.S. President Donald Trump warned Iran over its continued blockage of the Strait of Hormuz.

2026-03-31

Korea to implement vehicle rotation system, but how much energy will it really save?

Korea is set to implement a five-day vehicle rotation system — restricting cars from operating on one weekday each week — across the public sector starting at midnight on Wednesday as part of an energy-saving campaign.

2026-03-24

Fallout of Hormuz crisis creeps toward daily life as oil constraints come for ramyeon

It started with gas stations. Now it may hit supermarkets. The fallout of the Iran war is inching closer to everyday life in Korea, with the production of staples such as ramyeon on the brink of catastrophic disruption if the Hormuz crisis drags on.

2026-03-19

Foreign minister asks counterpart in Riyadh for cooperation in oil supply

Foreign Minister Cho Hyun held an emergency phone call on Friday evening with Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan Al Saud, requesting “active cooperation and support to ensure that crude oil supplies continue without disruption.”

2026-03-14

Gov't considers buying over 6 million barrels of crude oil from foreign refiners in Korea

The Democratic Party (DP) and the government are considering exercising priority purchase rights to secure over 6 million barrels of crude oil from foreign refiners stored in Korea amid the widening conflict in the Middle East.

2026-03-10

korea joongAng daily