Iran war fallout on global alliances, energy deals and BTS comeback — Ep. 124

The episode focuses on the escalating U.S.-Iran conflict and its ripple effects on global alliances, particularly in Asia. President Donald Trump’s shifting stance on allied contribution to the Strait of Hormuz has created uncertainty among partners and South Korea finds itself in a difficult spot, closely watching U.S.-Japan discussions while weighing its own legal, political and military constraints.  At the same time, energy security has become a pressing concern, with Seoul securing 24 million barrels of oil from the UAE as prices surge. The government is also considering a large supplementary budget to cushion the economic impact of rising energy costs. Domestically, new labor rules under the Yellow Envelope Act are already reshaping employer-worker dynamics, while mixed economic signals persist, including rising youth unemployment and a potential slowdown in the tech sector.  The episode also touches on major cultural and economic developments, including the large-scale BTS comeback concert in Seoul, which has prompted heightened security and logistical preparations, and a wave of corporate annual meetings reflecting new governance rules. About the podcast: The Korea Pro Podcast is a weekly conversation hosted by Korea Risk Group Executive Director Jeongmin Kim, Managing Editor John Lee and correspondent Joon Ha Park, delivering deep, clear analysis of South Korean politics, diplomacy, security, society and technology for professionals who need more than headlines. Uploaded every Friday. This episode was recorded on Thursday, March 19th, 2026. Audio edited by Alannah Hill