South Korea has not made a final decision on the possible deployment of forces in the Strait of Hormuz, the Anadolu Agency reported.
"South Korea can make a military contribution to global efforts to ensure freedom of navigation through the strait, as long as such a contribution does not compromise its defense readiness, if it decides to do so," a presidential official told "Yonhap".
Earlier, an unnamed Defense Ministry official told the SBS television network that Seoul was making "concrete preparations" to send naval forces to the strait.
SBS said preparations for the deployment include a P-8 maritime patrol aircraft, an explosive ordnance disposal team and a logistics support ship.
The South Korean government has previously said it would seek to deploy to the strait only after the end of the US-Iran war.
This comes after US President Donald Trump publicly criticized Seoul for refusing to participate in actions against Iran, as the US recently scaled back military exercises with South Korea.
"We believe we may be able to make a contribution within the scope that does not compromise our combat readiness," said the presidential official, who spoke on condition of anonymity.
Any deployment requires a decision by the National Security Council, a resolution at a cabinet meeting and the consent of the National Assembly.
Current discussion "has not reached the stage of seeking parliamentary approval and no final decision has been made," the official added.
A senior South Korean military official told SBS: "I understand that discussions on base ports and operational bases are also underway with the relevant countries."
South Korea is a U.S. defense treaty ally, with more than 28,500 U.S. troops and other military assets stationed on the Korean Peninsula.