South Korean President Lee Jae Myung (R) and Japanese Prime Minister Sanae Takaichi enter a conference room at a hotel in Andong on Tuesday for a joint press announcement after their meeting. Photo by Yonhap
South Korean President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi agreed to strengthen supply chain cooperation and boost efforts to secure crude oil and liquefied natural gas amid the ongoing Middle East crisis, both leaders said Tuesday as they met for a summit in Lee’s hometown of Andong.
“We agreed that the need for close cooperation between the two countries has increased further regarding the instability in supply chains and energy markets stemming from the recent situation in the Middle East,” Lee said at a joint press conference after the leaders met for one hour and 45 minutes.
“Furthermore, our two countries have decided to further strengthen cooperation in the fields of LNG and crude oil, which are key energy sources,” he said.
Takaichi said the agreement includes “mutual swap arrangements for crude oil, petroleum products and liquefied natural gas.”
She also proposed expanding cooperation with other Asian countries facing supply chain disruptions under the “Power Asia” framework she introduced last month. The $10 billion initiative is aimed at helping Asian countries secure crude oil and petroleum-related products.
“Under Power Asia, we agreed to launch Japan-South Korea cooperation centered on strengthening the resilience of the energy supply chain in the Indo-Pacific region, including enhancing stockpiles,” Takaichi said.
The meeting marked the fourth summit between the two leaders in the seven months since Takaichi took office. In January, Lee visited Japan and held talks with Takaichi in the ancient city of Nara, Japan’s first permanent capital and the prime minister’s hometown.
Lee’s hometown of Andong, some 120 miles southeast of Seoul, is famous for its traditional folk village, a UNESCO World Heritage site. Lee noted that the venues for bilateral summits had expanded beyond Seoul and Tokyo to regional cities such as Busan, Gyeongju, Nara and Andong, reflecting growing ties between the neighbors.
He added that it was believed to be the first time the leaders of South Korea and Japan had visited one another’s hometowns.
Lee hailed the countries’ “shuttle diplomacy,” saying the practice of leaders meeting frequently without rigid protocol had become “fully established.”
Seoul and Tokyo, whose relations have long been strained by historical disputes, have seen ties thaw in recent years as they confront shared challenges, including North Korea’s growing nuclear and missile threats and volatility in U.S.-China relations.
The conflict in the Middle East has added greater urgency to the relationship, Lee said at the opening of the summit.
“A storm is sweeping across the global landscape,” he said. “It is a time when cooperation and communication among like-minded countries are needed more than ever.”
The leaders reaffirmed the importance of bilateral cooperation between Seoul and Tokyo, and trilateral cooperation with Washington, to ensure peace and stability in the region.
The two sides discussed expanding cooperation in artificial intelligence, biotechnology and space exploration, while agreeing to strengthen coordination on transnational scam crimes and personal data protection.
They also exchanged views on North Korea and regional security issues, with Lee outlining Seoul’s vision for “a peaceful Korean Peninsula where there is no need to fight.”
On Tuesday evening, Lee and Takaichi are scheduled to attend a banquet dinner and cultural performance. The Japanese prime minister is expected to return home Wednesday morning.
