South Korea

Korean and Taiwanese chipmakers are bidding up helium and sulfur prices without supply constraints — the sector's profitability gives them pricing power to protect production lines.

Ahya characterizes Korea and Taiwan's semiconductor sector as 'deep cyclical' — if $150 oil triggers a near-global recession, demand destruction from collapsing tech capex would hit these companies hard, regardless of their current ability to absorb input cost inflation.

The Strait of Hormuz closure is driving South Korea to fast-track nuclear restarts, adding a second major Asian economy to the structural push for domestic baseload power — bullish for uranium and nuclear supply chains.

The Middle East energy crunch is catalyzing nuclear restart momentum in Japan (with PM Takaichi and strong public polling support) and Korea, turning tentative programs into high-priority national security efforts.

Asia's net oil imports at ~2% of GDP make it the most vulnerable region; India, Taiwan, Thailand, Korea, and Philippines face the greatest risk, and a $150 oil scenario could drag regional growth to 3.9%.

Strong public support post-Hormuz crisis plus Takaichi's large election mandate removes political risk, turning tentative nuclear restarts into a matter of energy-security necessity.

Japan, South Korea, Taiwan, and Singapore collectively have ~30 million tons of ethylene capacity that was already uncompetitive due to Chinese overcapacity. The Hormuz disruption, by threatening their naphtha feedstock supply, could accelerate 30-50% closure by 2030.