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Iran War Escalates 'War Insurance' Costs, Pushing Korean SMEs to the Brink
As the Iran War prolongs and the Strait of Hormuz remains blocked, Korean small and medium-sized shipping companies face severe financial strain due to surging 'war insurance' premiums.
Strait of Hormuz Blockade Puts Pressure on Small and Medium Shipping Companies
The prolonged Iran War has led to the blockade of the Strait of Hormuz, a critical maritime route, causing difficulties for Korean vessels. This situation has triggered a sharp rise in 'war insurance' premiums, intensifying financial pressure on domestic small and medium-sized shipping companies. Unlike larger corporations, these SMEs struggle to absorb the increased costs, pushing many to the brink of collapse.
*Source: YTN (2026-04-17)*
