South Korea, Japan agree to shore up energy cooperation, strengthen security ties
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Japanese Prime Minister Sanae Takaichi shaking hands with South Korean President Lee Jae Myung at a meeting in Andong on May 19.
PHOTO: AFP
ANDONG, South Korea – South Korea and Japan agreed on May 19 to expand cooperation on liquefied natural gas (LNG) and crude oil supply, including on stockpiling and petroleum product swop arrangements, their leaders said.
South Korean President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi said after a meeting in the former’s hometown of Andong that they would deepen coordination to stabilise energy supply lines and expand cooperation with other Asian partners, as supply disruption from war in the Gulf strains their import-dependent economies.
“Recent instability in supply chains and energy markets stemming from the situation in the Middle East has further underscored the need for close cooperation between our two countries,” Mr Lee said in a joint press statement.
Ms Takaichi said they also launched a bilateral initiative focusing on strengthening energy supply resilience, including enhancing reserves in the Indo-Pacific, and “assessing energy security through measures such as mutual swop transactions for crude oil, petroleum products and LNG”.
The two leaders also reaffirmed stronger security coordination, including trilateral cooperation with the US, as they confront shared challenges, including North Korea and broader regional tensions.
Mr Lee said recently upgraded vice-ministerial-level security talks between the two countries marked “meaningful progress” in institutionalising defence dialogue.
The summit in Andong was the sixth meeting between the two leaders since Mr Lee took office and the second in 2026 under their “shuttle diplomacy” framework.
Both leaders said the rapid succession of meetings – including reciprocal visits to each other’s hometowns – showed the depth of trust between the countries and a broadening of cooperation beyond capitals to regional and economic ties.
South Korea and Japan have sought to strengthen coordination despite longstanding historical disputes, as both governments place greater emphasis on economic security, advanced technology cooperation, including artificial intelligence and regional stability.
In Andong, the leaders will attend a banquet featuring Korean and Japanese cuisine, symbolising bilateral friendship. They will also take in cultural performances including a piano recital and a traditional riverside firework and pansori programme. REUTERS
