Kang Hoon-sik: "Visits to Kazakhstan, Oman and Saudi Arabia to Discuss Additional Crude Oil and Naphtha Supplies"

[The Financial News] Kang Hoon-sik, Chief of Staff to the President of the Republic of Korea, will visit Kazakhstan, Oman and Saudi Arabia as Presidential Special Envoy for Strategic Economic Cooperation to secure additional supplies of crude oil and naphtha.
At a press briefing held at the Chunchugwan press center at Cheong Wa Dae on the 7th, Kang stated, "As the Presidential Special Envoy for Strategic Economic Cooperation, I will depart this evening together with the Ministry of Trade, Industry and Resources and other relevant ministries, as well as domestic energy companies, to Kazakhstan, Oman and Saudi Arabia to hold talks on securing additional supplies of crude oil and naphtha."
Kang stressed, "In particular, to ensure that high-level consultations between governments do not end as empty rhetoric, we will work closely with the companies that actually import crude oil, naphtha and other products, and we intend to spare no support until oil tankers and product carriers safely arrive at Korean ports."
He added that the government is mobilizing all available policy tools to ensure stable supplies of pharmaceuticals, medical devices and other medical products, for which concerns have recently been raised about potential supply disruptions.
Kang said, "We are giving priority in supplying raw materials such as naphtha, plastics and resins to companies that manufacture infusion solutions, packaging materials and syringes. We are also actively operating a hoarding-report center and issuing administrative guidance to wholesalers to eradicate illegal practices like hoarding and cornering that disrupt market order." He went on, "In addition, the government is monitoring supply and price trends for key items such as urea solution, paint and standard garbage bags in real time through a traffic-light-style alert system."
Kang continued, "When any abnormal signs are detected, we are comprehensively examining whether there are problems in the distribution stages, what alternative supply sources are available, and what regulatory relaxations are possible to ensure rapid supply, and we are swiftly implementing the necessary measures." He added, "In particular, we are doing our utmost to prevent our inspection results from becoming mere desk theory detached from reality by holding meetings with companies that produce or receive these products and by directly visiting storage and distribution sites."
Regarding the 26 Korean-flagged vessels currently waiting inside the Strait of Hormuz, he explained that the government is drawing up measures to enable their safe passage through the strait, giving top priority to the safety of the seafarers on board while also taking into account the positions of the shipping companies and the framework of international cooperation.
Kang said, "I ask the people of our nation to trust the government's efforts and continue their normal daily economic activities," adding, "Of course, if you actively participate in energy-saving practices in your daily lives, in light of the difficult energy supply situation, it will help us overcome this crisis more smoothly."
Finally, he emphasized, "I would like to reiterate that spreading fake news or fabricated information that exploits this crisis situation to stir anxiety among the public is a serious crime that undermines the normal functioning of the national system," and warned, "If any violations of the law are confirmed, we will respond strictly, including filing criminal complaints."

cjk@fnnews.com Choi Jong-geun Reporter