Lee Jae-myung reports 24 South Korean vessels have exited the Strait of Hormuz
With only two ships still stranded, South Korea's maritime crisis in one of the world's most critical oil chokepoints is nearly over
Twenty-four of the 26 South Korean-operated vessels trapped in the Strait of Hormuz have now exited the waterway, South Korean President Lee Jae-myung confirmed on June 30. Two ships remain behind, held up by repair complications and cargo issues, but the bulk of a crisis that had 137 Korean sailors stuck in one of the world’s most strategically sensitive passages is effectively over.
This is not a small deal. The Strait of Hormuz is responsible for approximately 70% of South Korea’s crude oil imports. Having two dozen ships locked out of that corridor was not just a maritime inconvenience; it was a direct threat to South Korea’s energy supply chain.
How 26 ships ended up stranded
The vessels were caught in the Strait of Hormuz as conflict between the US and Iran escalated, forcing the waterway to effectively close. At peak disruption, all 26 South Korean-operated ships in the area were stranded, with 137 Korean sailors aboard unable to proceed.
The first meaningful breakthrough came around June 26, when eight vessels departed, reducing the number of stranded ships to five. By June 30, one more had cleared, leaving only two still waiting.
A ceasefire agreement between the US and Iran, reached around mid-June, was the catalyst that made all of this possible.
HMM, the South Korean shipping giant, operated some of the affected vessels. The company’s involvement brought additional public attention to the crisis domestically, given HMM’s profile as one of Korea’s flagship carriers.
Why the Strait of Hormuz matters this much
The Strait of Hormuz is a 21-mile-wide channel connecting the Persian Gulf to the Gulf of Oman.
For South Korea specifically, the dependence is structural. The country imports the vast majority of its energy and has no domestic oil production to fall back on.
The two remaining vessels are being held back by practical complications rather than geopolitical ones. Repair issues and cargo logistics are the culprits.
What this means for energy markets and broader economic stability
South Korea is one of the world’s largest importers of liquefied natural gas and crude oil. A prolonged closure of the Strait would have forced the government into emergency procurement at elevated spot prices. The near-complete resolution of the shipping crisis removes that pressure, at least for now.