Seoul: South Korea on Wednesday welcomed a two-week ceasefire proposal by the United States and Iran, voicing hope for the safe passage of vessels through the Strait of Hormuz, a critical energy shipping route. "Our government welcomes the agreement between the United States and Iran for a ceasefire... and the groundwork it has laid for the resumption of navigation through the Strait of Hormuz," foreign ministry spokesperson Park Il said in a statement.

According to Yonhap News Agency, the spokesperson emphasized the importance of ensuring the freedom of navigation for all vessels, including South Korea's own, through the Strait of Hormuz. This strategic waterway is vital for the global energy supply, and South Korea hopes for swift and safe transit for ships.

The statement also expressed optimism for a successful outcome in the negotiations between the United States and Iran, aiming for peace and stability in the Middle East. The ongoing discussions are crucial for the region and could lead to a long-term resolution of tensions.

U.S. President Donald Trump announced his agreement to suspend strikes on Iran for two weeks, contingent upon Iran's commitment to the complete and immediate reopening of the Strait of Hormuz. This decision is significant given the geopolitical implications and the role of the Strait in international trade.

South Korea's reliance on the Middle East for oil and gas imports underscores the importance of the Strait of Hormuz, with over 60 percent of its crude oil passing through this route. The ceasefire and potential reopening of the strait are critical for maintaining South Korea's energy security and economic stability.