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South Korea Considers Driving Restrictions as Oil Prices Surge

3/30/2026

Summary

Story summary

Finance Minister Koo Yun Cheol said South Korea may expand driving restrictions to the public if oil prices exceed $120 per barrel.
The government has limited civil servant driving to ease energy supply impacts from the Iran war.
President Lee Jae Myung urged reduced power use and more public transport to prevent shortages.
Oil prices surged after Houthis' missile attacks, raising inflation and growth concerns for Korea dependent on Middle Eastern energy.

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Story summary

Finance Minister Koo Yun Cheol said South Korea may expand driving restrictions to the public if oil prices exceed $120 per barrel.
The government has limited civil servant driving to ease energy supply impacts from the Iran war.
President Lee Jae Myung urged reduced power use and more public transport to prevent shortages.
Oil prices surged after Houthis' missile attacks, raising inflation and growth concerns for Korea dependent on Middle Eastern energy.