Oil shock fallout, reported Russia imports and KF-21 rollout — Ep. 125

This week’s episode of the Korea Pro Podcast begins with the ongoing global oil shock and its ripple effects on South Korea’s economy, policy decisions and public sentiment. The conversation also explores the government’s response, including efforts to stabilize public concern and a forthcoming supplementary budget aimed at easing the burden of rising energy prices and minimizing industrial damage.  On the international front, the episode looks at South Korea’s diplomatic and strategic positioning amid shifting global alliances, including Japan’s recent engagement with the United States and the implications for Seoul. The episode also delves into reports that South Korea and other countries are considering importing Russian oil under temporary sanctions relief, weighing both the geopolitical and practical risks such a move could entail. Things wrap up with a look at defense developments, including the rollout of South Korea’s first mass-produced KF-21 fighter jet and the government’s broader ambitions to strengthen its defense industry, as well as a preview of upcoming diplomatic engagements and policy moves to watch in the week ahead.  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 26th, 2026. Audio edited by Alannah Hill