South Korea concerned about trade impact from US strikes on Iran

From Yahoo Finance: 2025-06-22 23:22:00

South Korean officials express concern over potential trade impact from recent U.S. strikes on Iran. Emergency security meeting held to assess economic consequences. Seoul aims to delay U.S. tariffs in talks and cooperate in mutual areas. South Korea heavily relies on Middle East oil imports, with 72% of total imports in 2023. Oil prices surge amid fears of Iranian retaliation. President Lee Jae Myung skips NATO summit due to Middle East uncertainties. Global crude supply at risk if Strait of Hormuz is closed.



Read more at Yahoo Finance: South Korea industry ministry flags concerns over US strike on Iran