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South Korea Steel Association Reports Limited Impact from Middle East Conflict on Supplies
Vice Industry Minister Moon Shin-hak urged major steel companies to prevent supply chain disruptions during a meeting in Seoul. The steel sector reports limited impact from the U.S.-Iran war but faces higher costs. The government pledged support to enhance industry competitiveness amid global challenges.
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South Korea's Vice Industry Minister Moon Shin-hak called on the steel industry to join efforts to stabilize supply chains of key industrial materials amid the Middle East crisis on Thursday, April 23, 2026, in Seoul, Yonhap reported. , according to Yonhap.
The gathering was held to check supplies of steel amid persisting conflict in the Middle East, the Ministry of Trade, Industry and Resources stated.
The Korea Iron & Steel Association stated that the steel industry is experiencing limited impact from the war between the United States and Iran. The association noted the industry has low dependence on Middle Eastern imports and supply chains. The steel supply status is relatively stable, the association added.
With supplies reported as stable, Moon urged steelmakers to maintain vigilance against potential disruptions, Yonhap reported. Moon pledged the government's continued efforts to help the steel industry strengthen its fundamental competitiveness. The steel industry faces challenges including global oversupply and trade protectionist measures of major economies.
Steel products are stacked at a port in Pyeongtaek, about 60 kilometers south of Seoul, in a file photo taken April 3, 2026.
