Seoul rules out Hormuz toll, eyes Middle East reconstruction projects

Korea is positioning itself for a postwar role in Middle East reconstruction while maintaining firm opposition to any tolls on Strait of Hormuz passage, Foreign Minister Cho Hyun said Monday, as the diplomatic fallout from the U.S.-Iran conflict continues to influence Seoul's regional strategy. “To drive the participation of Korean companies in regional reconstruction and build a comprehensive economic partnership with the Middle East, the foreign ministry launched a dedicated comprehensive economic cooperation team on Korea-Middle East, while using overseas embassies to actively scout for tailored cooperation opportunities across the region,” Cho said during a press conference. “The ministry has been preparing for the post-war era since before a potential U.S.-Iran memorandum of understanding.” The agreement, signed electronically by Washington and Tehran, extends the ceasefire and sets the stage for reopening the strait. Korea is among the countries reportedly being considered for participation in a $300 billion (459 trillion won) private fund designed to channel investment inWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times