South Korea has decided to transport oil shipments via the Red Sea as an alternative to the Strait of Hormuz. Disruptions continue at the strategic waterway amid the ongoing Middle East war. President Lee Jae Myung announced this decision during a Cabinet meeting on Monday. The meeting doubled as an emergency economic review at Cheong Wa Dae in Seoul.
Lee stressed the need to balance vessel safety against oil supply needs. He emphasized that not many alternative routes remain for rerouted imports. Refusing to use available routes outright just because they carry some risk could seriously affect South Korea’s crude supply. Such a refusal would pose too great a threat to the country and its people.
The president went on to underscore the importance of ensuring balance in all decisions. If we ban everything whenever there is even a slight risk, Lee asked, how are we supposed to secure crude supplies at home? Taking all factors into account, South Korea may be entering a situation in which it cannot help but accept some degree of risk.
During the meeting, Minister of Oceans and Fisheries Hwang Jong-woo laid out his ministry’s support plan. The ministry will support crude oil shipments via Yanbu Port on the Red Sea coast. According to Hwang, the Ministry of Trade, Industry and Energy had shared information on crude oil tankers. Shipping contracts between cargo owners and shipping companies had been finalized by Friday. This enabled the Oceans Ministry to notify relevant shippers that operations in the Red Sea could proceed.
The Red Sea route offers an alternative corridor using Yanbu port on Saudi Arabia’s west coast. Crude arrives there from Saudi Arabia’s eastern oil fields through a 1,200-kilometer pipeline. This avoids the Gulf, where shipping has become difficult due to Iran’s effective blockade of the Strait of Hormuz.
The Oceans Ministry and the Industry Ministry have operated a real-time coordination system since April 1. As soon as the Industry Ministry shares additional information, including confirmation of transport contracts, the Oceans Ministry will notify shipping companies that navigation is possible. If refiners request vessel procurement, the ministry also plans to support vessel matching between shipping companies and refiners.
Hwang added that the comprehensive situation room at the Oceans Ministry and the Cheonghae Unit will conduct safety monitoring. This includes real-time location tracking of vessels during operations to ensure the safety of both crews and ships. South Korea operates the Cheonghae naval unit in the Gulf of Aden for anti-piracy missions using the 4,400-ton destroyer ROKS Dae Jo Yeong. This risk acceptance strategy balances urgent supply needs against the dangers of the Red Sea route.
A further variable involves Yemen’s Iran-backed Houthi rebels, who have threatened to block the Bab el-Mandeb Strait. This strait connects the Red Sea with the Gulf of Aden and the Indian Ocean. Foreign Minister Cho Hyun assessed the likelihood of a Red Sea blockade on the scale of the Strait of Hormuz as low.
According to Hwang, a daily average of 39 vessels have passed through the Bab el-Mandeb Strait since the outbreak of the Middle East war. Their flags include Panama, Hong Kong, China, and Singapore. The vessels range from crude carriers to general cargo ships.
During the same Cabinet meeting, Lee addressed several other pressing matters. He called for a stronger response against fake news that disrupts state affairs and affects the public. Lee called on the Ministry of the Interior and Safety to take the lead in overseeing the matter. Even politicians in positions of responsibility are spreading fake news, Lee criticized, or amplifying it despite having no reason not to know it is false.
Fake news that throws state affairs into confusion is a tactic used by the enemy in wartime, he added. The Republic of Korea is in a wartime situation due to the Middle East war. Deliberately spreading fake news under such circumstances is no different from an act of treason.
Lee also expressed regret to North Korea over a drone incursion by South Korean nationals. He called it a civilian drone incident that should never have occurred under this government. He extended his deepest sympathies to residents in border areas who experienced considerable concern.
Although it was not the government’s intention, Lee expressed regret to the North Korean side over unnecessary military tensions. Irresponsible and reckless actions of some individuals caused this situation. Relevant ministries should promptly take actionable steps to ensure such cases do not recur. The government’s risk acceptance strategy for oil imports does not extend to provocations that threaten inter-Korean stability.
