Industry
Oil price surge signs as Hormuz Strait closure looms, South Korea industry on alert
A U.S. attack on Iran has heightened geopolitical risks in the Middle East, raising concern South Korean industry could be affected. If disruption around the Hormuz Strait persists, countries heavily reliant on Middle East energy could face a bigger hit. Oil prices have begun to jump, renewing pressure for higher electricity rates and threatening profitability in power-intensive sectors including semiconductors, steel, petrochemicals and displays.
