S. Korea to enforce naphtha export restriction starting Friday

South Korea will begin restricting naphtha exports Friday amid growing supply shortages triggered by the conflict in the Middle East. The Ministry of Trade, Industry and Resources announced Thursday the restriction will go into effect immediately after it is published in the official gazette at midnight Friday and remain in place for five months. The move comes as domestic supply disruptions of naphtha, a key feedstock widely used in petrochemical and other industries, have increased following U.S. and Israeli airstrikes on Iran. South Korea imports around half of its naphtha through the Strait of Hormuz, a major Middle Eastern trade route, which has effectively been closed due to the war. To support domestic companies handling naphtha, the government plans to expand low-interest loans through its supply chain fund and, if necessary, raise import credit limits. “As the Middle East crisis, which began in late February, enters its fourth week, the economic impact, such as higher prices, supply disruptions and heightened volatility in the foreign and financial markets, is increasingly eviden

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