President Lee to Attend International Hormuz Conference... "Will Make a Substantive Contribution to Freedom of Navigation"

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\r\n[The Financial News] South Korean President Lee Jae-myung attended a multilateral summit on Iran's blockade of the Strait of Hormuz. He expressed his willingness to contribute to guaranteeing freedom of navigation for vessels using the strait.
According to political sources on the 18th, Cheong Wa Dae spokesperson Jeon Eun-su said in a written briefing the previous day that President Lee attended the summit and exchanged views on efforts to ensure freedom of navigation in the Strait of Hormuz, the protection of sailors and vessels, and practical measures to secure safe passage after the war ends.
The meeting lasted about 1 hour and 30 minutes. It was attended by leaders from 49 countries, including the United Kingdom, France, Germany and Italy, as well as two international organizations. The leaders of the United Kingdom, France, Germany and Italy all attended in person.
Among the leaders who joined by video, President Lee was the first to speak. His remarks reportedly lasted about 4 minutes and 40 seconds, longer than the three minutes allotted to each participant.
After the meeting, President Lee said on SNS, "South Korea is a key stakeholder that relies on the Strait of Hormuz for about 70% of its crude oil imports," adding, "We will take the lead in joining the international community's efforts to contribute to the principle of free international passage and the stability of global supply chains." He meant that normalization of the Strait of Hormuz should not be left only to the United States, Iran and the directly involved parties, but should be resolved through cooperation among countries with direct interests at stake.
He added, "We also plan to actively explore ways to strengthen diplomatic and military cooperation in preparation for future changes in the situation."
A senior Cheong Wa Dae official explained, "The original purpose of this meeting was to explore defensive measures such as escorting ships in the region, and South Korea's position is that it will contribute in various ways." The official added, "We are currently at the stage of reviewing several possible forms of contribution. It is still too early to speak specifically." More than 12 countries, including the United Kingdom and France, have already expressed their intention to form a multinational force and prepare to take part in a mission to defend freedom of navigation in the Strait of Hormuz. If such a measure is actually implemented, South Korea will decide whether to participate after reviewing the issue from multiple angles.
Earlier, Iran said it would temporarily fully open the Strait of Hormuz during the ceasefire period. Donald Trump also said, "Negotiations with Iran are still ongoing and will continue through the weekend."
As the temporary opening of the Strait of Hormuz, the ceasefire and negotiations move forward at the same time, expectations for an end to the conflict are rising. There is also speculation that a second round of ceasefire talks could take place on the 20th. However, the US and Iran have yet to narrow their differences over the removal of enriched uranium, and that issue is expected to become the key agenda item in the negotiations.
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theknight@fnnews.com Jeong Kyung-soo Reporter