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US-Iran Military Clash Reaches 'Peak', Oil Prices Fluctuate Wildly… South Korea Issues Economic Emergency
US-Iran Military Tensions at Peak, Showing Signs of Escalation
The US Department of Defense has warned Iran of the 'most intense offensive', declaring that airstrikes will not cease until the enemy surrenders. US Central Command released footage of intercepting Iranian missiles and drones in the Strait of Hormuz, showcasing 'overwhelming firepower'. US Secretary of Defense Pete Hegseth claimed that Iran was isolated and suffering a devastating defeat, but this contradicted President Trump's statement the previous day that "the war will end soon," highlighting internal discord within the administration.
Meanwhile, Iranian state television reported that 175 children died in a missile attack on an elementary school in the Minab region, and the New York Times confirmed that fragment analysis identified components of US-made Tomahawk missiles. This incident is recorded as the largest loss of life since the US began its offensive, yet the US continues to suggest the possibility of Iranian involvement.
Hormuz Threat and Global Economic Repercussions
When signs of Iran laying sea mines in the Strait of Hormuz were detected, President Trump immediately warned of their removal, hinting at potential military intervention. The Secretary of Energy's SNS announcement that the US Navy had escorted oil tankers in the Strait of Hormuz was later deleted after being denied by the White House, causing oil prices to fluctuate sharply. Pakistan and Bangladesh are implementing emergency measures such as a four-day work week and school closures in preparation for a prolonged blockade of the Strait of Hormuz, increasing the economic burden on energy-importing countries.
South Korean President Lee Jae-myung emphasized the need for an early supplementary budget to overcome high oil prices, and Minister of Economy and Finance Koo Yun-cheol stated that a supplementary budget could be formed without issuing government bonds. This demonstrates the direct impact of US-Iran military tensions on the South Korean economy. While the KOSPI and KOSDAQ indices rebounded, recovering the 5,500-point level, market volatility due to oil price instability is expected to continue.
*Source: YouTube: YTN (2026-03-10)*
