Seoul to send tankers to secure crude

The government and the Democratic Party of Korea are preparing to send five South Korean-flagged tankers to Yanbu, a Red Sea port in Saudi Arabia, to secure crude oil supplies from the Middle East. The route is gaining traction as an alternative to the Strait of Hormuz, which has been effectively blocked since the outbreak of the regional conflict.

The Red Sea corridor, which runs through the Bab el-Mandeb Strait, had previously been under a government advisory urging ships to avoid the area due to threats from Iran-aligned Houthi rebels in Yemen. The latest move signals a shift as Seoul moves more decisively to contain growing energy supply risks.

At a parliamentary task force meeting on economic responses to the Middle East conflict at the National Assembly on April 6, the government and ruling party agreed to move forward with the plan. Authorities also decided to relax earlier navigation warnings, allowing selected crude carriers to pass through the route.

The Red Sea passage is now seen as the most practical option for bringing Middle Eastern crude to South Korea, given the disruption in the Strait of Hormuz, which remains under Iran’s control.

Seoul also plans to dispatch special envoys to Saudi Arabia, Libya and Oman to secure alternative supplies available along the Red Sea route. Rep. Ahn Do-geol of the Democratic Party of Korea, who serves as secretary of the task force, said officials discussed releasing government stockpiles first if replacement cargoes are secured, then swapping volumes once incoming shipments arrive.

President Lee Jae-myung acknowledged the risks but said they are unavoidable. Speaking at a Cabinet meeting and emergency economic review session, Lee warned that shutting down all routes over safety concerns would pose a greater threat to the country’s oil supply.

“There are limited alternative routes, and blocking them entirely would severely disrupt crude supply and pose a serious risk to the country and its people,” he said. “If we rule out even moderately risky options in pursuit of complete safety, how can we ensure stable supply? That is something we must consider.”

Foreign Minister Cho Hyun told the meeting that Yemen’s Houthi rebels lack the capability to impose a blockade on the Red Sea comparable to that of the Strait of Hormuz.


Dong-Joo Cho djc@donga.com