Japan, S. Korea Leaders Agree on Energy Security Cooperation

Andong, South Korea, May 19 (Jiji Press)–Japanese Prime Minister Sanae Takaichi and South Korean President Lee Jae-myung confirmed Tuesday that the two nations will consider concrete measures for energy security cooperation, such as mutually supplying crude oil and bolstering oil reserves, in view of the prolonged turmoil in the Middle East. At the bilateral summit in the city of Andong, North Gyeongsang Province, South Korea, Takaichi stressed the importance of “the two countries playing vital roles in the stability of the Indo-Pacific region,” while Lee said South Korea and Japan are important partners. In a joint press conference after the meeting, Takaichi said that she wants to “make steady progress” in bilateral security cooperation. Both Japan and South Korea face difficulties procuring critical goods such as naphtha due to the de facto blockade of the Strait of Hormuz, a key transport waterway for Middle East crude oil. At the meeting, the two leaders discussed the “POWERR Asia” energy aid framework for Asian countries, announced by Takaichi last month. They exchanged views on the outcome of last week’s summit between U.S. President Donald Trump and Chinese President Xi Jinping. Takaichi and Lee also discussed North Korea’s growing ties with Russia and confirmed their policy of dealing with the issue under the trilateral framework including the United States. Takaichi thanked Lee for his support in seeking a swift resolution of the issue of Japanese nationals abducted by Pyongyang. This is the fourth in-person meeting between the two leaders, and Takaichi’s visit to South Korea was arranged as part of so-called shuttle diplomacy, or mutual visits by the leaders of Japan and South Korea to each other’s country. Andong is the hometown of the South Korean president. Takaichi invited Lee to her home prefecture of Nara in western Japan in January, where they held summit talks. The prime minister arrived in South Korea on Tuesday and is slated to return home Wednesday. END [Copyright The Jiji Press, Ltd.]