Energy·03.05.2026AI özeti Hormuz shock calls for a reset of Korea's energy strategy
More than two months into the Iran war, the closure of the Strait of Hormuz has sharply raised oil prices and plunged the global economy into turmoil. Korea, heavily dependent on Middle Eastern crude, has been hit particularly hard with the OECD cutting its growth forecast from 2.1% to 1.7%. Naphtha imports have been blocked, forcing petrochemical plants to halt production and causing shortages in everyday items like garbage bags and medical syringes. Korea's self-sufficiency in oil and gas stands at just 10.8% compared to Japan's 42.1%, prompting calls for a fundamental redesign of energy strategy including pipeline projects, expanded joint stockpiling, and increased overseas resource development.