SEOUL, April 12 - South Korea is on the verge of securing crude oil shipments from Kazakhstan, the country's industry minister said on Sunday, describing talks as having made "quite some progress" and indicating that precise amounts and contract details should be disclosed early next week.
Minister Kim Jung-kwan made the remarks in an interview with a local broadcaster, saying the outreach to Central Asia is part of a broader push to diversify sources of oil amid disruptions to shipping that have affected routes through the Strait of Hormuz. Kim noted that a recent diplomatic effort included travel by the presidential chief of staff, Kang Hoon-sik, who accompanied him on visits to Kazakhstan, Oman and Saudi Arabia earlier this month to secure supplies of crude oil and naphtha.
Kim also highlighted logistics when comparing Kazakhstan to other suppliers, saying that while Kazakhstan "might sound very far, it actually takes about the same time with shipments from the U.S. About 50 to 60 days." He described the Central Asian trip as aimed at diversifying South Korea's oil supply in the long run.
South Korea is heavily dependent on imports to meet its energy needs, with roughly 70% of its oil purchases coming from the Middle East. In that context, the country secured a pledge from the United Arab Emirates last month to supply 24 million barrels of crude, a commitment that complements the current efforts to broaden supplier relationships.
This development signals a near-term diplomatic and commercial effort to shore up crude supply lines while the government finalizes the exact terms of any agreement with Kazakhstan. Officials have indicated that additional specifics will be released soon, but until those details are public, the scale and timing of shipments remain to be confirmed.
The minister's comments place Kazakhstan as a potential new element in Seoul's supply mix, framed explicitly as part of a long-term diversification strategy rather than an immediate replacement of existing suppliers.