The assessment came after Iran carried out an attack in retaliation for Israel’s airstrike on Iran’s diplomatic compound in Damascus, Syria, earlier. This caused more geopolitical uncertainties in the Middle East.

South Korea seeks to connect SMEs with international students

“Considering the urgency of the situation in the Middle East, the Government will prepare for all scenarios and take proactive responses,” South Korean Industry Minister Ahn Duk-geun announced during a meeting with state-owned companies and oil refineries. And he added that they will work closely with the industry and related institutions to promptly address the situation surrounding the conflict between Iran and Israel.

While the attack has had no immediate impact on South Korea’s resource supply, the government has said that will remain alertas the country meets 72 percent of its crude oil demand with imports from the Middle East.


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