KB News Desk
Iran sanctions ripple: South Korea is assessing how expanded US secondary sanctions on Iran could affect energy costs, trade and financial markets.
Five sectors targeted: Washington’s “Operation Economic Outcast” broadens sanctions exposure for third-country firms dealing with Iran in digital assets, technology, gold, aviation and shipping.
China in focus: China buys more than 80 percent of Iran’s oil exports, raising the risk of fresh US-China friction if Washington targets Chinese refiners and other entities.
Oil shock threat: Ajou University professor Kim Tae-bong warned crude could top $100 per barrel if Strait of Hormuz disruptions intensify; other estimates put worst-case prices far higher.
Korea doubly exposed: As an energy-import-dependent economy with deep trade ties to China, South Korea could face higher inflation, weaker exports and slower growth if tensions escalate.
Won under pressure: Greater geopolitical uncertainty could weaken the won and complicate interest-rate cuts by adding imported inflation and financial-market volatility.
Supply defenses ready: Seoul has issued its lowest-level resources security alert, sought alternative energy suppliers and prepared phased releases of strategic oil reserves.
