Japan and South Korea have agreed to deepen energy cooperation through a new framework aimed at stabilising supplies of crude oil, petroleum products and liquefied natural gas, as tensions in the Middle East raise concerns over energy security.
The initiative also includes a joint support scheme worth around $10 billion to strengthen regional supply chains, News.Az reports, citing Gulf News.
Japanese Prime Minister Sanae Takaichi and South Korean President Lee Jae Myung reached the agreement during talks on Tuesday, with both sides committing to closer coordination on energy policy and critical mineral supply chains. A new policy dialogue will be established to advance specific areas of cooperation, according to officials.
The leaders also discussed broader regional cooperation, with Lee saying the potential for collaboration between South Korea, Japan and China remains “limitless” and calling for mutual respect and shared interests to support peace and stability in Asia. The initiative builds on a Tokyo-led framework launched in April designed to help Asian countries secure crude oil supplies, with South Korea also taking part.
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