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Iran's New Supreme Leader Chooses All-Out War: 5 Scenarios Mojtaba Khamenei's Selection as Successor Poses for the Middle East War and Korea's Economy

Reports emerged that Mojtaba Khamenei (56), the second son of deceased Supreme Leader Ali Khamenei, has been selected as the new Supreme Leader of Iran. His rise — as a hardline conservative and powerful behind-the-scenes figure with strong influence over the Revolutionary Guards — signals Iran's choice of all-out resistance, and could make scenarios of a Hormuz blockade, oil price surge, and further KRW/USD depreciation a reality.

Mojtaba Khamenei (Wikimedia Commons)
Mojtaba Khamenei (Wikimedia Commons)
One-line hook: The son emerges after his father's death — the 'invisible power broker' who could reshape the course of the Iran War steps into the spotlight.

TL;DR

  • Following the death of Ali Khamenei (February 28, 2026), Iranian opposition outlet Iran International cited sources reporting that his second son, Mojtaba Khamenei (56), has been selected as successor
  • Mojtaba holds no official title yet wields enormous influence within the IRGC and intelligence apparatus as a behind-the-scenes powerbroker
  • Continuation of the hardline conservative line is all but certain → all-out resistance and a strengthened Hormuz blockade scenario become realistic
  • Israel immediately warned: "Whoever becomes the next leader is a target for elimination"
  • Korea faces a triple shock of a renewed oil price surge, further KRW/USD depreciation, and export disruption

The Facts — What Happened

On February 28, 2026, Iranian Supreme Leader Ali Khamenei was killed in a joint US–Israeli airstrike (Operation Epic Fury). Iran's Assembly of Experts subsequently convened an emergency session to begin the succession process. On March 4, 2026, Iranian opposition outlet Iran International cited sources reporting that Mojtaba Khamenei (Mojtaba Hosseini Khamenei, age 56) had been effectively confirmed as the new Supreme Leader.

Yonhap News, MBC, Chosun Biz, JoongAng Ilbo, and YTN all carried the story as breaking news.

The 56-year-old Mojtaba Khamenei, the late Supreme Leader's second son, is the frontrunner to succeed his father. He has long been regarded as the real power operating behind the scenes. — MBC News Desk, March 4, 2026

Why This Story Is Breaking Now

Following Khamenei's death, the power vacuum in Iran became the pivotal variable in determining the war's outcome. A moderate successor would open the door to negotiations; a hardliner would mean prolonged conflict. Mojtaba is unmistakably a hardliner.

  • This news broke on the same evening that KOSPI's record single-day drop of -12.06% was confirmed, reigniting market panic
  • Trump had said "the Iran war will be over in 4–5 weeks," but the emergence of a hardline successor adds weight to the prolonged war scenario
  • Compounded by reports of Gulf states (UAE, Saudi Arabia) considering military involvement, fears of a full-scale Middle East war are at their peak

Context — Who Is Mojtaba?

ItemDetails
Age56 (estimated born 1970)
Official TitleNone; operates behind the scenes
BackgroundIslamic cleric; deeply versed in security and military institution management
InfluenceEnormous influence within the IRGC and intelligence agencies
Political LineHardline conservative; same line as his father
Israel's Response"Whoever becomes the successor is a target for elimination"

Mojtaba has never held a single official government post, yet has long been known inside Iran as the 'hidden power.' Mehdi Ramati, a Tehran-based analyst cited by the New York Times, said "Mojtaba is very well-versed in coordinating security and military operations, making him the most logical choice at this moment," while noting that "some are watching with concern."


Outlook — Where Is the Iran War Headed?

Scenario 1: Prolonged All-Out War

Hardline successor selected → IRGC resistance continues → war extends from 4–5 weeks to 3+ months. Possibility of oil prices breaking back above $100 → $130.

Scenario 2: Strengthened Hormuz Blockade

Mojtaba takes command of IRGC → issues Hormuz Strait blockade order → 30%+ disruption to LNG and crude oil supply → deepening energy crisis for Korea.

Scenario 3: Drawing Gulf States into the War

Iran strikes UAE and Saudi Arabia again → Gulf states respond militarily → the front expands across the entire Arabian Peninsula, global supply chain collapses.

Scenario 4: Collapse of Negotiation Prospects

Conflict between moderate President Pezeshkian and the hardline Supreme Leader exposed → internal power split within Iran → unpredictable decision-making risk.

Scenario 5: U.S. Exit Strategy Complicated

Trump's vision of a "quick end to the war" → diplomatic off-ramps narrowed by the hardline successor's emergence → anti-war sentiment vs. escalation hawks clash intensifies within the U.S.


Korea Checklist

Emergency energy plan: With 70% of crude oil sourced from the Middle East, review the duration of strategic reserve releases
Exchange rate defense: KRW/USD breach of ₩1,500 confirmed — monitor resistance levels at ₩1,550 and ₩1,600
Export disruption preparation: Urgently develop alternatives to export routes through Iran to Central Asia
Additional evacuation of overseas nationals: Secondary safety check for the ~21,000 Koreans remaining in 13 Middle Eastern countries
Further stock market decline response: Hedge strategies needed for a worst-case additional -30% KOSPI drop after the -12.06% plunge


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