Andong, May 20, 2026 – The Europe Today: Japanese Prime Minister Sanae Takaichi and South Korean President Lee Jae Myung agreed on Tuesday to strengthen bilateral energy cooperation by ensuring stable supplies of crude oil, petroleum products and liquefied natural gas (LNG) amid rising tensions in the Middle East, according to Kyodo News.
During their summit in Andong, southeastern South Korea and President Lee’s hometown, the two leaders agreed to establish a bilateral policy dialogue aimed at advancing cooperation in the energy sector and securing resilient supply chains for critical minerals.
Speaking at a joint event following the meeting, President Lee said the potential for cooperation between the two countries is “limitless,” stressing the importance of collaboration among South Korea, China and Japan to promote regional peace and stability.
He emphasized that the three Asian nations must “respect one another, cooperate and pursue shared interests” to ensure genuine peace and long-term stability in the region.
According to Japanese government officials, the planned Japan–South Korea policy dialogue will focus on two major areas: cooperation in securing strategic oil reserves for the Indo-Pacific region and mutual emergency support through the provision of petroleum products and LNG from national stockpiles when required.
The two countries also agreed to cooperate under a Tokyo-led regional framework announced in April that aims to provide approximately $10 billion in financial assistance to help Asian nations secure crude oil supplies. South Korea is participating in the initiative alongside Japan.
The agreement comes amid growing concerns over global energy security and supply disruptions linked to escalating geopolitical tensions in the Middle East.
