The industry ministry said Sunday it is preparing for all contingencies, including a possible closure of the Strait of Hormuz, amid escalating tensions surrounding Iran, adding the impact on shipping logistics currently remains limited. The Ministry of Trade, Industry and Resources held an emergency meeting with relevant ministries and institutions to assess the economic and industrial impact of the massive U.S.-Israeli strike on Iran the previous day, which came amid stalled talks over Tehran's nuclear program. The attack reportedly killed Iran's Supreme Leader Ayatollah Ali Khamenei. Given recent developments, authorities need to mobilize all available measures based on various scenarios to minimize economic fallout, particularly in the event of a blockade of the Strait of Hormuz, by closely managing oil tanker schedules and securing alternative shipping routes, the ministry said. The Strait of Hormuz is the world's most critical oil export route, linking the Persian Gulf to global markets. South Korea, which relies heavily on energy imports, could be especially vulnerable to disruptio