South Korea, Seeking Hormuz Alternative, May Deploy Vessels to Red Sea -- WSJ

Dow Jones04-06 17:47

By Timothy W. Martin

South Korea is reviewing whether to send five of the country's flagged vessels to the Yanbu port on Saudi Arabia's Red Sea coast, with President Lee Jae Myung telling his cabinet that accepting some risk is necessary to boost energy shipments vital for its powerhouse exports.

About 70% of South Korea's crude oil, and roughly a third of its liquefied natural gas, come from the Middle East. A lack of oil shipments from the region poses too great of a threat for South Korea to choose inaction, Lee said at a cabinet meeting.

"A situation is coming where we have no choice but to accept some risk," Lee said. "Coordinate and do it as safely as possible."

Yanbu isn't on the Strait of Hormuz and offers an alternative route-yet Yemen's Tehran-backed Houthi militants have threatened to expand attacks there as well. South Korea had halted sailing from there on March 1, but now has more than two dozen of its country's vessels stranded around the strait.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

April 06, 2026 05:47 ET (09:47 GMT)

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The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 06, 2026 05:47 ET (09:47 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>South Korea, Seeking Hormuz Alternative, May Deploy Vessels to Red Sea -- WSJ</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSouth Korea, Seeking Hormuz Alternative, May Deploy Vessels to Red Sea -- WSJ\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-04-06 17:47</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n       By Timothy W. Martin \n</p>\n<p>\n     South Korea is reviewing whether to send five of the country's flagged vessels to the Yanbu port on Saudi Arabia's Red Sea coast, with President Lee Jae Myung telling his cabinet that accepting some risk is necessary to boost energy shipments vital for its powerhouse exports. \n</p>\n<p>\n     About 70% of South Korea's crude oil, and roughly a third of its liquefied natural gas, come from the Middle East. A lack of oil shipments from the region poses too great of a threat for South Korea to choose inaction, Lee said at a cabinet meeting. \n</p>\n<p>\n     \"A situation is coming where we have no choice but to accept some risk,\" Lee said. \"Coordinate and do it as safely as possible.\" \n</p>\n<p>\n     Yanbu isn't on the Strait of Hormuz and offers an alternative route-yet Yemen's Tehran-backed Houthi militants have threatened to expand attacks there as well. 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Martin \n\n\n     South Korea is reviewing whether to send five of the country's flagged vessels to the Yanbu port on Saudi Arabia's Red Sea coast, with President Lee Jae Myung telling his cabinet that accepting some risk is necessary to boost energy shipments vital for its powerhouse exports. \n\n\n     About 70% of South Korea's crude oil, and roughly a third of its liquefied natural gas, come from the Middle East. A lack of oil shipments from the region poses too great of a threat for South Korea to choose inaction, Lee said at a cabinet meeting. \n\n\n     \"A situation is coming where we have no choice but to accept some risk,\" Lee said. \"Coordinate and do it as safely as possible.\" \n\n\n     Yanbu isn't on the Strait of Hormuz and offers an alternative route-yet Yemen's Tehran-backed Houthi militants have threatened to expand attacks there as well. South Korea had halted sailing from there on March 1, but now has more than two dozen of its country's vessels stranded around the strait. \n\n\n       This item is part of a Wall Street Journal live coverage event. 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