ANDONG, South Korea—Prime Minister Sanae Takaichi of Japan and South Korean President Lee Jae-myung convened on May 19, agreeing to significantly enhance energy cooperation. This move comes as growing instability in the Middle East, fueled by the U.S.-Israel war on Iran, raises global concerns.
The two leaders met in Andong, a southeastern city and the hometown of the South Korean president. Their agreement aims to deepen collaboration by fortifying the Indo-Pacific region’s energy supply chain and establishing a robust system for sharing crude oil and petroleum-related products.
This summit is part of an ongoing series of reciprocal visits designed to strengthen bilateral ties. The choice of Andong as the venue followed an invitation extended by President Lee during their January meeting in Nara, Prime Minister Takaichi’s hometown.
Opening the summit, Takaichi remarked, “The international community is facing a very difficult time. It is extremely important that we steadily develop the positive trajectory of Japan-South Korea relations and fulfill our role as the cornerstone for stabilization in the Indo-Pacific region.”
President Lee echoed this sentiment, stating, “Through the strong cooperation between South Korea and Japan, and as we overcome the severity of the international situation together, we have come to realize just how important we are to each other as cooperation partners.”
During a joint news conference, Takaichi elaborated on the “Power Asia” framework, a Japanese-led initiative providing financial support for securing 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, and reinforcing Japan-South Korea energy security. We also agreed to jointly consider concrete actions,” she explained.
Beyond energy, the leaders also affirmed cooperation in the critical sectors of artificial intelligence and economic security. “We confirmed that we will promote mutually beneficial cooperation so that Japan and South Korea can become strong and prosperous together,” Takaichi added, indicating plans to advance discussions among relevant officials.
Highlighting the meeting’s significance, the South Korean side designated Takaichi a “quasi-state guest,” with President Lee personally extending a welcome at a hotel in the city.
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