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South Korea's Lee calls for energy saving campaign including shorter showers, car curbs Joyce Lee, Jack Kim 4–5 minutes

South Korean President Lee Jae Myung attends his new year press conference at the presidential Blue House in Seoul

South Korean President Lee Jae Myung speaks during his new year press conference at the presidential Blue House in Seoul, South Korea, Wednesday, Jan. 21, 2026. Ahn Young-joon/Pool via REUTERS Purchase Licensing Rights, opens new tab

Summary
Companies

Government urges shorter showers, daytime charging
$16.6 billion stimulus planned, including consumer vouchers
Oil reserves may last under two months in real terms

SEOUL, March 24 (Reuters) - South Korean President Lee Jae Myung on Tuesday called for a nationwide energy-saving campaign over risks ‌to oil and gas supplies from the Iran war, saying public institutions would cut back on their use of passenger cars.

Energy Minister Kim Sung-whan told a Cabinet meeting private-sector vehicle curbs were voluntary for now, but could be reviewed if the energy alert level increased.

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The government is calling on people ​to adopt 12 energy-saving practices like shorter showers, charging phones and electric vehicles during the day and using washing ​machines and vacuums over the weekend.

The government will ask the top 50 oil-consuming businesses to cut ⁠use, and encourage staggered commuting hours and other conservation steps, he said.

Kim also said Seoul would restart five nuclear reactors ​by May, ease restrictions on coal plants and expand renewable energy to reduce longer-term dependence on LNG, and could extend the lives ​of three coal power plants scheduled to close this year.

The energy mix adjustment is expected to save up to 14,000 tons, or up to 20% of South Korea's average daily LNG consumption of 69,000 tons for power, Kim said.

HD Hyundai (267250.KS), opens new tab

has introduced energy-saving measures across affiliates such as ​HD Hyundai Heavy (329180.KS), opens new tab

and HD Hyundai Oilbank, including voluntary vehicle restrictions, reduced plastic use and taking steps to cut power use ​such as turning off lights, a company official said.

South Korea also plans to draft a supplementary budget of 25 trillion won ($16.6 billion) as soon ‌as ⁠possible which could include cash vouchers for consumers and financial support for companies, amid growing stimulus talks by other economies.

"Right now, what matters most is not saving government finances, but deploying funds swiftly and effectively where they are needed most," Lee told the Cabinet meeting, as the finance ministry said it would submit the budget to parliament by end-March. RESERVES MAY NOT LAST TWO MONTHS

The ​ongoing U.S.-Israeli strikes on Iran and ​Tehran's retaliation have brought severe ⁠disruption to global energy markets, bringing tanker traffic through the Strait of Hormuz to a near standstill.

South Korea imports around 70% of crude oil through the Strait of Hormuz, according to lawmakers ​and the industry ministry.

The country faces a looming energy crisis despite holding about 190 ​million barrels of ⁠oil reserves - 100 million barrels by the government and 90 million by private companies.

While standards from the International Energy Agency (IEA) suggest reserves could last 208 days, officials note this figure excludes uses such as petrochemical exports, making the actual buffer significantly shorter.

Based on a ⁠daily consumption ​rate of 2.9 million barrels as of 2024 according to Korea National Oil ​Corporation data, analysts said the reserves might not last two months.

The government has secured pledges from the UAE for 24 million barrels of oil, but the ​timing of shipments remains unclear.

Reporting by Jack Kim, Joyce Lee, Jihoon Lee and Kyu-seok Shim; Editing by Christian Schmollinger and Kate Mayberry

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