Japanese Prime Minister Sanae Takaichi and South Korean President Lee Jae Myung are expected to agree on a new framework for energy cooperation, including joint crude oil stockpiling, during a summit in South Korea on Tuesday.
The meeting, which will take place in Lee’s hometown of Andong, will be the first summit between the two leaders since January and comes amid growing global concerns over energy security and supply disruptions.
Focus On Energy Security
According to a report by the Nikkei business daily, the two countries plan to cooperate on securing crude oil supplies and strengthening emergency reserves.
Ahead of the visit, Takaichi said she intended to hold “concrete discussions on energy cooperation” with Lee.
The proposed initiative would reportedly include joint efforts to secure financial and technical support for building and managing oil stockpiling systems.
Japan and South Korea are both heavily dependent on imported energy and remain vulnerable to disruptions in major global shipping routes, including the Strait of Hormuz.
Regional Cooperation Framework
The Nikkei report said the initiative could make use of an existing energy cooperation framework involving Southeast Asian countries.
The move reflects broader efforts by Tokyo and Seoul to strengthen regional resilience against supply shocks following recent tensions in the Middle East and disruptions to global energy markets.
Energy security has become an increasingly urgent issue across Asia after volatility in oil supplies and shipping routes triggered fears of rising costs and inflation.
Trump–Xi Talks Also On Agenda
The two leaders are also expected to exchange views on last week’s summit in Beijing between US President Donald Trump and Chinese President Xi Jinping.
The Trump–Xi meeting focused on issues including trade, Taiwan, Iran and regional stability, and has been closely watched across Asia.
Japan and South Korea both maintain close security ties with the United States while managing complex economic relationships with China, making developments in US-China relations especially significant for both governments.
(with inputs from Reuters)
