Seoul:<Text>

South Korea has secured over 74 million barrels of crude oil for May, presidential chief of staff Kang Hoon-sik said Friday, easing concerns over oil supply disruptions. Kang made the announcement in a press briefing at Cheong Wa Dae, stating that the government is making efforts to secure additional supplies amid growing uncertainties surrounding the war in the Middle East.

According to Yonhap News Agency, Kang emphasized that for May, South Korea has secured 74.62 million barrels of crude oil, equivalent to 87 percent of last year's monthly average, suggesting minimal concerns over potential supply disruptions. By obtaining additional oil supplies from Africa and North America, Seoul has effectively reduced its reliance on the Middle East from 69 percent to 56 percent.

Additionally, South Korea has diversified its shipping routes to avoid the Strait of Hormuz, a critical passage for the country's crude oil imports. Kang highlighted the decision to import 23.99 million barrels from Saudi Arabia and 16 million barrels from the United Arab Emirates in May through alternative routes as a result of the swift joint response from the government and private sector.

Kang also pointed out the country's strong economic fundamentals, noting that the real gross domestic product growth exceeded market expectations in the first quarter, expanding 1.7 percent from three months earlier and marking the fastest quarterly growth in five and a half years. However, he cautioned that high prices of oil and raw materials remain downside risks, urging continued efforts to secure alternative crude oil supplies.