SEOUL: President Lee Jae Myung said South Korea was prepared to make a “tangible contribution” to securing passage through the Strait of Hormuz, voicing concern over the closure’s far-reaching impact on the global economy and supply chains.
Lee spoke during a videoconference on Friday (April 17) hosted by the leaders of France and the United Kingdom on restoring freedom of navigation through the strategic chokepoint, a major artery for global oil flows disrupted by the US-Israeli strikes on Iran.
Lee was the first among those joining by video to speak, apart from the leaders of France, the United Kingdom, Germany and Italy, who attended the meeting in person in Paris, which drew representatives from around 50 countries, according to presidential spokesperson Jeon Eun-su.
“President Lee emphasised that the Republic of Korea is a key stakeholder, importing around 70 per cent of its crude oil through the Strait of Hormuz, and expressed a strong willingness to make a tangible contribution to ensuring freedom of navigation in the waterway,” Jeon said in a press statement summarising Lee’s remarks.
The Republic of Korea is South Korea's official name. The Strait of Hormuz is vital to South Korea, which is highly dependent on oil imports, for both energy and petrochemical industry.
“President Lee proposed that the international community jointly seek ways to swiftly break the current deadlock and establish a management mechanism to ensure stability in the strait,” Jeon added.
Lee also “expressed concern over a situation in which the blockade of the Strait of Hormuz — a public asset and a vital pillar sustaining global supply chains — is shaking global energy, financial, industrial and food security as a whole,” according to Jeon.
During the meeting, Lee “pointed out that conditions remain such that the safety and health of sailors stranded in the strait, including South Korean nationals, cannot be sufficiently guaranteed,” Jeon added.
Participating countries shared their assessments of the situation surrounding the Strait of Hormuz during the meeting.
They also “agreed to promote diplomatic and military cooperation to secure freedom of navigation and safety in the waterway, while building trust after the war,” Jeon explained.
Following the summit, Lee underscored on X that “stability in the waters concerned and the guarantee of freedom of navigation are grave matters directly linked to our economy and the daily lives of our people.”
“As a globally responsible nation, we will play a responsible role in ensuring freedom of navigation in the strait based on international law,” Lee said.
“We also plan to actively seek ways to enhance diplomatic and military cooperation in preparation for any future changes in the situation.”
Lee also pledged to “take a leading role in international efforts to uphold the principle of free international navigation and the stability of global supply chains.”
Leaders and representatives from 49 countries and two international organisations took part, including those from South Korea, Canada, Australia, the Netherlands, Sweden, New Zealand, Iraq and Singapore.
China and Japan were represented by officials below the head-of-state level.
The summit followed a series of earlier efforts, including a virtual meeting of military chiefs from 35 countries hosted by France on March 26 and a foreign ministers’ meeting involving more than 40 countries led by Britain on April 2.
South Korea attended both meetings.
After the conflict began on Feb. 28, Iran effectively shut the narrow strait, and the US has since Monday been carrying out a military blockade against all vessels of all nations entering or leaving Iranian coastal waters or ports.
French President Emmanuel Macron and British Prime Minister Keir Starmer co-chaired the meeting in Paris. German Chancellor Friedrich Merz and Italian Prime Minister Giorgia Meloni attended in person.
The US is not part of the planning for what has been branded the new Strait of Hormuz Maritime Freedom of Navigation Initiative.
While the meeting was underway, Iranian Foreign Minister Abbas Araghchi announced that the Strait of Hormuz would be “completely open” to all commercial vessels following a coordinated route. The opening of the strait is to continue throughout the remainder of the 10-day ceasefire between Israel and Lebanon, which began on Thursday.
In a post on Truth Social on Friday, Trump welcomed the decision. - The Korea Herald/ANN
