South Korea warns Hormuz tensions to prolong energy and supply shocks

South Korea warns Hormuz tensions to prolong energy and supply shocks South Korea’s president has warned that escalating tensions around the Strait of Hormuz will continue to disrupt global energy flows and supply chains. Lee Jae Myung told a cabinet meeting on Tuesday that prolonged instability in oil and raw materials markets should be treated as inevitable. "For the time being, difficulties in global energy and raw materials supply chains and high oil prices will continue," Lee said.