South Korea’s Ministry of Climate, Energy and Environment convened a high-level meeting on March 2 with representatives from key energy agencies including the Korea Power Exchange and major power generators to assess possible effects of the recent U.S. and Israeli airstrikes on Iran.

Officials reported that, so far, the tense situation in the Middle East has not affected the country’s electricity supply system. Several factors contribute to this assessment, including decreasing power demand due to warmer spring weather and typical delays of three to six months before rising oil prices influence the LNG market.

They also noted that coal and LNG procured by Korean power companies do not come from the Middle East, reducing direct vulnerability. However, the ministry said it will maintain active monitoring and emergency response mechanisms in case the conflict persists or results in disruptions such as a blockade of the Strait of Hormuz that could send global energy prices sharply higher.

Deputy Minister Lee emphasized the importance of continued coordination among energy agencies to minimize uncertainties and ensure a stable power supply.

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