Seoul: South Korean companies operating in the Middle East are scrambling to draw up response measures amid heightened tensions in the region following the U.S.-Israeli strike on Iran while prioritizing the safety of employees and seeking to minimize disruptions to local operations, officials said Sunday.
According to Yonhap News Agency, on Saturday, the United States and Israel launched a large-scale joint attack on Iran amid stalled talks on Tehran's nuclear program, which killed Iran's Supreme Leader Ayatollah Ali Khamenei. Major companies have convened emergency meetings to ensure the safety of employees in the Middle East and discuss ways to address potential disruptions, as they maintain a significant presence in Iran, Iraq, the United Arab Emirates, and other countries in the region.
Samsung Electronics Co. reported no damage or casualties involving its Middle East staff, including those in Iran, and is making efforts to ensure workers' safety. Hanwha Group, operating defense and construction businesses in the region, stated it is closely monitoring the safety of more than 120 employees stationed in Iraq and other countries. Chairman Kim Seung-youn instructed officials to "take all necessary measures" to protect employees in the affected region, and affiliates have established real-time communication systems, group officials said.
Hyundai Motor Group, which operates a joint plant in Saudi Arabia, said it is monitoring developments, though it has no operations in Iran or Iraq. Airlines and shipping companies are also taking precautionary steps. Korean Air Co. has diverted and canceled two Incheon-Dubai flights and plans additional cancellations through Thursday. Shipping firms, including HMM Co. and Pan Ocean Co., are monitoring the situation around the Strait of Hormuz and preparing contingency measures amid the possible closure of the critical oil export route.
"As the Middle East has become increasingly important, a growing number of South Korean companies have built production bases there," an industry official said. "Should the Iran crisis escalate further, domestic firms could face substantial repercussions."