Korean Finance Minister Koo Yun-cheol convened a meeting with Gulf Cooperation Council ambassadors to address the pressing issue of the global energy shortage and the ongoing blockade of the Strait of Hormuz, as per a statement issued by the country’s finance ministry.
During the gathering, which took place on Friday, Minister Koo sought the assistance of the Gulf envoys in procuring stable energy supplies and safeguarding the security of Korean vessels, according to a statement released by the ministry on Sunday.
The Gulf ambassadors assured Minister Koo that South Korea held a high priority for them and that they would maintain close communication with Seoul to ensure the uninterrupted supply of energy, as per the statement.
Similar to other Asian economies heavily reliant on fossil fuels, South Korea has been left vulnerable by the energy crisis.
The country, situated in East Asia, relies almost entirely on imported energy, with approximately 70 percent of its crude oil imports passing through the Strait of Hormuz.
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