South Korea is facing a major economic threat as tensions in the Strait of Hormuz disrupt global oil and LNG supply chains. President Lee Jae Myung has warned that high energy prices and supply instability could become the “new normal,” forcing urgent changes to South Korea’s economy.
With nearly 70% of its oil and 20% of its LNG coming from the Middle East, South Korea is among the hardest-hit countries in this crisis. Strategic reserves are being used, but long-term solutions like supply chain diversification and industrial restructuring are now top priorities.
This crisis also reveals growing cracks between the United States and its allies, while China positions itself as a stable global power. Is this the beginning of a major geopolitical shift?
