South Korea sees opportunities and challenges from US‑Iran MOU, finance minister says

Finance Minister Koo Yun‑cheol said the recent memorandum of understanding between the United States and Iran, aimed at ending their conflict, creates both opportunities and challenges for South Korea. He announced that the government will pursue post‑conflict economic policies, seek cooperation with Middle Eastern nations on reconstruction and fiscal health, and work to strengthen supply‑chain resilience.

Koo noted the need to address risks highlighted by the war, including potential U.S. tariffs on products from countries accused of violating forced‑labour bans, and pledged to protect Korean companies from disadvantage. He also said Seoul will monitor developments in the Middle East, ensure the safe passage of Korean vessels through the Strait of Hormuz, and mitigate domestic impacts such as slower employment growth, consumer‑price increases and foreign‑exchange volatility.