ASTANA – South Korea is on the verge of securing crude oil supplies from Kazakhstan as it grapples with supply chain vulnerabilities tied to escalating tensions in the Middle East, according to Trade, Industry and Resources Minister Kim Jeong-kwan.
In an interview with KBS broadcast on April 12, Kim indicated that negotiations have advanced substantially. "There has been quite some progress, so we should be able to announce specific amounts and details early next week," he said.
Earlier this month, Presidential Chief of Staff Kang Hoon-sik accompanied Kim on a visit to Kazakhstan, where discussions centered on potential supplies of both crude oil and naphtha. The outreach reflects Seoul's strategic push to diversify its energy sourcing away from conventional routes that traverse the Strait of Hormuz—a critical chokepoint increasingly exposed to geopolitical volatility.
Despite Kazakhstan's geographic distance from the Korean peninsula, Kim noted that shipping timelines remain competitive, with transit times to South Korean ports averaging 50 to 60 days—comparable to routes from the United States. He emphasized that the visit was part of a broader, long-term effort to diversify the nation's oil supply portfolio.
South Korea maintains near-total dependence on imported energy, with approximately 70% of its crude oil requirements sourced from Middle Eastern producers. That concentration has heightened concerns in Seoul about exposure to regional instability affecting key transit corridors.
The Kazakhstan initiative follows another recent diplomatic success: last month, South Korea secured a commitment from the United Arab Emirates to supply 24 million barrels of crude oil, further diversifying its supplier base as part of a broader energy security strategy.