As the fragile ceasefire agreement between the United States and Iran falters, anxiety is rising among small businesses in South Korea. The Strait of Hormuz, a critical passage for global oil and shipping, has been blocked again, leading to export disruptions and increased logistics costs, which are rapidly affecting small enterprises.
According to foreign reports on July 13, Iran re-blocked the Strait of Hormuz on July 12 local time. The Iranian Revolutionary Guard announced in a statement that "attempts to pass through the strait via illegal routes are recurring," and declared the strait would be closed again. They warned that vessels attempting to use unauthorized routes would face warning shots and stated that the blockade would continue until U.S. intervention ceases.
In response, the U.S. conducted airstrikes on over 140 military facilities in Iran, including missile and drone bases, air defense systems, and communication networks, citing violations of the ceasefire agreement. This marked the third military action in a week. Previously, on July 7, after Iran attacked a civilian oil tanker passing through the strait, the U.S. retaliated by striking Iranian military facilities over two days.
With both nations returning to military conflict, the ceasefire agreement signed last month has effectively unraveled in less than a month. The U.S. and Iran had signed a memorandum of understanding on June 14 to ensure safe navigation in the Strait of Hormuz, but President Donald Trump notified Iran of the ceasefire's termination earlier this month due to repeated military provocations.
The collapse of the ceasefire has deepened concerns for small businesses in South Korea. The Strait of Hormuz is a strategic chokepoint through which approximately 20% of the world's oil maritime traffic passes. With the strait blocked again, disruptions to both oil and container shipping are inevitable, likely leading to a rise in global logistics costs.
Small businesses have been grappling with logistics disruptions and export uncertainties since the outbreak of the U.S.-Iran conflict nearly six months ago. According to the Ministry of SMEs and Startups, there have been a total of 997 reports of damage and management difficulties related to the Middle East conflict from February 2 to July 10. The most common issues reported were transportation disruptions and rising logistics costs, each accounting for 296 cases, followed by 242 cases of contract cancellations or delays. Industry insiders expect that damage reports will exceed 1,000 this week.
Export companies, particularly those heavily reliant on the Middle Eastern market, are feeling the pressure. The prolonged conflict has exacerbated their financial difficulties, and hopes for improved export conditions following the ceasefire have been dashed. A representative from a small export company stated, "Since the outbreak of the Middle East war, orders from major buyers in Iraq have ceased, and we are currently waiting to resume transactions," adding that "exports to Iraq have dropped by over 70% compared to before the war."
The Ministry of SMEs and Startups plans to maintain its emergency response system and is considering measures to address the situation. The ministry is monitoring the status of damages related to the Middle East conflict in real-time through 15 export support centers nationwide and an online damage reporting portal. They plan to provide support measures in areas such as logistics and export financing, led by a task force established immediately after the outbreak of the war.
A ministry official stated, "We believe that the burden of logistics costs and other business difficulties will continue for the time being, even after the ceasefire agreement. We have been providing support through logistics vouchers and emergency management stabilization funds for affected businesses," adding, "We will closely monitor the situation while maintaining our existing response system and prepare necessary measures."
* This article has been translated by AI.
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