Gov't to temporarily designate naphtha as economic security item amid supply woes | Yonhap News Agency

## Summary
OK By Kim Han-joo SEOUL, March 18 (Yonhap) -- The government will temporarily designate naphtha as an economic security item following supply shortages due to the ongoing crisis in the Middle East, Finance Minister Koo Yun-cheol said Wednesday. The designation will allow companies to receive government support related to supply chain stability. "We will closely monitor naphtha supply trends and difficulties faced by companies, and take proactive measures, such as securing alternative import sources and restricting exports," Koo said during a meeting of economy-related ministers. Finance Minister Koo Yun-cheol speaks during a meeting of economy-related ministers at the government complex in Seoul on March 18, 2026. (Yonhap) khj@yna.co.kr (END) Related Articles (LEAD) Industry minister says fuel price cap system already showing price stabilization effect Gov't to mobilize state supply chain fund for firms with difficulties amid Iran crisis Keywords #naphtha Articles with issue keywords Most Liked 16th Gwangju Biennale: You must change your life Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Police vow zero tolerance for terror threats against BTS comeback concert (2nd LD) N. Korea holds parliamentary elections Preparations for BTS' Gwanghwamun concert Anti-U.S. rally Ahead of BTS' Gwanghwamun concert prev Gov't to temporarily designate naphtha as economic security item amid supply woes Next Gov't to temporarily designate naphtha as economic security item amid supply woes

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By Kim Han-joo
SEOUL, March 18 (Yonhap) -- The government will temporarily designate naphtha as an economic security item following supply shortages due to the ongoing crisis in the Middle East, Finance Minister Koo Yun-cheol said Wednesday.
South Korea imports more than half of its naphtha through the Strait of Hormuz, which has effectively been closed due to heightened regional tensions. The designation will allow companies to receive government support related to supply chain stability.
"We will closely monitor naphtha supply trends and difficulties faced by companies, and take proactive measures, such as securing alternative import sources and restricting exports," Koo said during a meeting of economy-related ministers.
The government will expand financial support for affected companies by 1.5 trillion won (US$1 billion), the minister said.
The support will include assistance with higher costs for alternative imports and preferential interest rates for companies handling high-risk economic security items.
The minister said the government will also swiftly implement all available policy tools, such as a supplementary budget, following the already enforced oil price cap system.
Finance Minister Koo Yun-cheol speaks during a meeting of economy-related ministers at the government complex in Seoul on March 18, 2026. (Yonhap)
khj@yna.co.kr
(END)
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Gov't to temporarily designate naphtha as economic security item amid supply woes

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## Expert Analysis

### Merits
N/A

### Areas for Consideration
- The support will include assistance with higher costs for alternative imports and preferential interest rates for companies handling high-risk economic security items.
- Finance Minister Koo Yun-cheol speaks during a meeting of economy-related ministers at the government complex in Seoul on March 18, 2026. (Yonhap) khj@yna.co.kr (END) Related Articles (LEAD) Industry minister says fuel price cap system already showing price stabilization effect Gov't to mobilize state supply chain fund for firms with difficulties amid Iran crisis Keywords #naphtha Articles with issue keywords Most Liked 16th Gwangju Biennale: You must change your life Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Police vow zero tolerance for terror threats against BTS comeback concert (2nd LD) N.

### Implications
- OK By Kim Han-joo SEOUL, March 18 (Yonhap) -- The government will temporarily designate naphtha as an economic security item following supply shortages due to the ongoing crisis in the Middle East, Finance Minister Koo Yun-cheol said Wednesday.
- The designation will allow companies to receive government support related to supply chain stability. "We will closely monitor naphtha supply trends and difficulties faced by companies, and take proactive measures, such as securing alternative import sources and restricting exports," Koo said during a meeting of economy-related ministers.
- The government will expand financial support for affected companies by 1.5 trillion won (US$1 billion), the minister said.
- The support will include assistance with higher costs for alternative imports and preferential interest rates for companies handling high-risk economic security items.

### Expert Commentary
This article covers korea, naphtha, supply topics. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 496.