Seoul: The end of the war between the United States and Iran, along with the stabilization of fuel prices, are critical conditions for potentially lifting price caps on domestic fuel products, Industry Minister Kim Jung-kwan stated on Monday. According to Yonhap News Agency, three conditions need to be satisfied for the government to consider ending the price cap system: resolution of the Iran conflict, normalization of crude deliveries through the reopening of the Strait of Hormuz, and consensus on how to improve relations between oil refineries and gas stations. Minister Kim expressed these views during a press briefing focused on pending economic issues. "But the government aims to swiftly end the price cap scheme once the war is over," Minister Kim emphasized. His comments came in response to inquiries about whether the government is contemplating keeping the system in place following Prime Minister Kim Min-seok's statement last week regarding a careful review of the price ceilings. Minister Kim noted that it is premature to discuss ending the system, as the potential conclusion of the U.S.-Iran conflict and its long-term impact on global fuel prices remain uncertain. He remarked that the system has maintained a balance in the fuel market from the perspective of both gas stations and consumers. While gasoline prices in South Korea have only increased by about 10 percent from pre-war levels, prices in the U.S. have surged by 30-40 percent. The Ministry of Trade, Industry and Resources recently froze price ceilings on gasoline, diesel, and kerosene for the second consecutive time, setting maximum prices at 1,934 won (US$1.30), 1,923 won, and 1,530 won per liter, respectively. These price caps are adjusted every two weeks under a temporary system introduced in mid-March to stabilize domestic fuel prices. Regarding the ongoing labor dispute within Samsung Electronics Co., Minister Kim expressed hope for a "wise" and "mature" resolution, highlighting the broader implications for the industry. Unionized worker s at Samsung have threatened a massive strike, demanding significant increases in performance-based bonuses aligned with the company's strong chip profits. Such action could potentially disrupt semiconductor production, impacting one of South Korea's most vital industries. Minister Kim also addressed the ongoing controversy involving Coupang, a U.S.-listed e-commerce company accused of lobbying Washington to pressure the Seoul government over a probe into a significant data leak incident. Kim assured that efforts are being made to manage the issue to prevent it from affecting trade and security relations between South Korea and the U.S. Coupang has faced scrutiny since authorities revealed in November that a data leak had impacted 33.7 million customers in South Korea, representing about 80 percent of the country's adult population. Recent U.S. lobbying reports indicated that Coupang spent over $1 million on lobbying, involving the White House and Congress, since its data leak scandal. This has fueled specu lation that these activities aimed to pressure the Korean government, although the company has denied such allegations.