Seoul, March 24 South Korean President Lee Jae Myung spoke Tuesday with New Zealand Prime Minister Christopher Luxon by phone and they shared their thoughts on the current situation unfolding in the Middle East, Cheong Wa Dae said.
The two leaders discussed the repercussions that the ongoing US-Israeli war against Iran is having on the global economy and energy supplies, and shared with each other the set of policy measures they have put in place to stabilize livelihoods in their countries, presidential spokesperson Kang Yu-jung said in a written briefing, Yonhap News Agency reported.
During the talks, Lee explained that South Korea has implemented a temporary fuel price cap system to help ease cost burdens on fuel, and is reviewing imposing restrictions on naphtha exports.
Lee urged South Korea and New Zealand engage in close coordination, noting that cooperation between nations with similar stances is vital in restoring regional peace and stabilizing the global economy.
As a country entirely dependent on imports for refined oil, New Zealand put securing safety in the Strait of Hormuz and stabilizing energy supplies high on its priority, Luxon said.
Luxon also evaluated highly of the two nation's signing of a joint statement calling on Iran to stop attempts to block commercial traffic in the strait, and voiced hope to continue close coordination on relevant issues, according to Kang.
New Zealand’s bilateral ties with South Korea are based on strong political, economic, and security links going back to the Korean War. Diplomatic relations between two nations were established in 1962 and resident Embassies opened in Seoul and Wellington in 1971, according to New Zealand's Ministry of Foreign Affairs and Trade.
In recent years, the relationship between two nations has deepened through engagement in areas such as economics and trade, defence, people-to-people links, film, culture, tourism, education, science and technology, and Antarctic issues.
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