Tag: strait of hormuz

strait of hormuz

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An aerial view of Korea National Oil Corporation’s crude oil storage facility in Seosan, South Chungcheong [KOREA NATIONAL OIL CORPORATION]

Gov't extends public-private crude oil swap system until end of June

The government has extended the operation of its crude oil swap system with private firms until the end of this month amid continuing uncertainties surrounding the Strait of Hormuz, a critical oil shipping route.

2026.6.2

This undated handout photograph released by Korea's Foreign Ministry on May 10 shows a damaged part of the Korean cargo ship HMM Namu docked at a port in Dubai. [YONHAP]

DP official confirms missile used in HMM Namu attack

The weapon used to attack the Korean-operated cargo ship HMM Namu near the Strait of Hormuz on May 4 was a missile, not a drone, a ruling party official told the JoongAng Ilbo on Tuesday.

2026.5.27

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Korea National Oil's strategic oil reserve complex in Seosan, South Chungcheong [YONHAP]

Seoul mulls timing of oil release amid concerns of supply crisis in August

Korea is taking a cautious approach with the timing of its oil stockpile release under an agreement among International Energy Agency (IEA) members amid concerns there could be a global oil crisis in August.

2026.5.26

U.S. President Donald Trump speaks at an event with Environmental Protection Agency Administrator Lee Zeldin at the White House in Washington on May 21. [YONHAP]

Trump voices strong opposition to proposed Strait of Hormuz tolls

U.S. President Donald Trump on Thursday voiced his opposition to the imposition of tolls in the Strait of Hormuz, as Iran is reportedly in talks with Oman to establish a toll system amid its push for control over traffic through the crucial waterway.

2026.5.22

A car is getting refueled at a gas station in downtown Seoul on May 7. [NEWS1]

Government extends fuel price caps for the fourth consecutive time

The government froze the price ceilings on fuel products for the fourth consecutive time Thursday, amid lessening volatility in global crude prices and a relatively stable supply of oil entering the country.

2026.5.21

Foreign Minister Cho Hyun speaks during a plenary session of the diplomacy and unification committee at the National Assembly in Yeouido, western Seoul, on March 17. [YONHAP]

Foreign minister says probe into HMM Namu attack in final stage

Foreign Minister Cho Hyun said Wednesday that an investigation into the attack on a Korean-operated commercial vessel near the Strait of Hormuz is in the final stage, adding that the government plans to disclose the findings once completed.

2026.5.20

This file photo, released by the foreign ministry on May 10, shows the scorched interior of the Panama-flagged cargo vessel Namu, operated by Korean shipping firm HMM. [YONHAP]

Korea, Iran 'serious' discussions on HMM Namu attack ongoing: Foreign Ministry

Korea and Iran continue to hold close and serious consultations regarding a recent attack on a Korean-operated vessel near the Strait of Hormuz, Seoul's foreign ministry said Tuesday, vowing to take "necessary measures" upon investigation results.

2026.5.19

This undated photograph released by the United Arab Emirates' state-run WAM news agency shows the under-construction Barakah nuclear power plant in Abu Dhabi's Western desert. [AP/YONHAP]

Drone strike sparks fire at UAE's Korean-built nuclear power plant, no safety concerns reported

A drone strike targeted the Barakah nuclear power plant in the United Arab Emirates (UAE) on Sunday, setting an electrical generator ablaze on its perimeter and again straining the shaky cease-fire in the Iran war.

2026.5.17

Korea's Foreign Minister Cho Hyun, right, meets with Iranian Foreign Minister Abbas Araghchi in New York on Sept. 26, 2025. [MINISTRY OF FOREIGN AFFAIRS]

Korean foreign minister urges Iranian counterpart to clarify ship attack facts

Korean Foreign Minister Cho Hyun urged Iran to clarify the recent HMM Namu attack near the Strait of Hormuz. Both nations emphasized the need for safe navigation and effective communication as investigations continue.

2026.5.17

This photo, provided by the United Arab Emirates on May 13, shows the country's Minister of State Saeed Bin Mubarak Al Hajeri. [YONHAP]

UAE minister urges end to disruptions in Hormuz shipping lanes

UAE Minister Al Hajeri urged an end to disruptions in the Strait of Hormuz, condemning attacks on shipping and reaffirming commitment to maritime security.

2026.5.13