Oil Climbs to a One-Month High as U.S. and Iran Trade Attacks in the Strait of Hormuz

Kim Yo Jong, the sister of North Korean leader Kim Jong Un, said on September 18 that US-led military exercises are steadily worsening the situation on the Korean Peninsula, and affirmed that North Korea will continue to build up its nuclear arsenal. The Korean Central News Agency reported Kim Yo Jong's statement, which referred to the annual Pacific Vanguard naval exercise scheduled for 2026 near Guam as yet another US-led war rehearsal and part of efforts to expand military influence in the Asia-Pacific region through cooperation with allies such as South Korea and Japan. Kim Yo Jong said the situation compels North Korea to take proportional or more proactive countermeasures, and warned that the North Korean military will mobilize every means at its disposal if its security or national interests are violated. The statement was her second in two days, after she rejected calls for North Korea to denuclearize once again on Thursday, September 17, at a meeting of the International Atomic Energy Agency, reiterating the position that North Korea's status as a nuclear-armed state is irreversible. The multilateral Pacific Vanguard 2026 naval exercise is led by the United States, with maritime forces from South Korea, Australia, Canada, New Zealand and Japan taking part near Guam from August 29 to September 10, according to Japan's Maritime Self-Defense Force.

President Lee Jae-myung, South Korea's leader, confirmed that South Korea will not become involved in the war in the Middle East, whether directly or indirectly, and that any role the country plays will have no connection to combat. Speaking to reporters on September 18, he said no troops would be sent to participate in or intervene in the war, stressing that South Korea adheres to the principle of not taking part directly in combat and will continue to uphold it. However, the South Korean leader said that while it will not participate directly in the fighting, the situation is complex and constantly changing, so the government must consider measures to protect the lives of its citizens, commercial vessels and crude oil shipping routes. He added that the South Korean military has the Cheonghae naval task force, which is ready to carry out missions to protect the country's interests, and acknowledged that the government is considering expanding its role in such missions. The remarks came in response to questions about the possibility of South Korea deploying troops near the Strait of Hormuz, amid pressure from the United States for South Korea to support operations against Iran, particularly in safeguarding navigation through the Strait of Hormuz. Although the South Korean government still insists no decision has been made, speculation has been growing in recent weeks that it may consider sending troops or equipment into the area.