South Korea’s President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi have agreed to boost cooperation on supply chains amidst ongoing conflicts in the Middle East. The leaders, meeting in Andong, emphasized the importance of collaboration in securing crude oil and Liquefied Natural Gas (LNG) supplies. They highlighted the necessity for close bilateral cooperation, especially in the face of supply chain and energy market instabilities stemming from the Middle East situation.
Lee and Takaichi expressed mutual agreement on the urgency to restore peace in the region. They announced plans to expand bilateral supply chain cooperation and strengthen ties in the LNG and crude oil sectors, recognizing these as vital energy sources for both nations. The leaders also discussed the possibility of a bilateral swap arrangement on crude oil, petroleum products, and LNG, aiming for mutually beneficial cooperation in various areas including artificial intelligence, economy, and security.
Moreover, the two countries emphasized the significance of bilateral and trilateral cooperation with Washington to ensure peace and stability in the region. Lee mentioned upcoming DNA tests on remains found at a wartime coal mine in Japan, highlighting this as a step towards cooperation on historical issues. He expressed optimism about the potential for limitless partnership between Korea and Japan, focusing on shared prosperity and tangible benefits for both nations.
Lee described Japan as an important partner, stressing the need for closer cooperation on the global stage amidst challenging times. The leaders acknowledged their joint efforts in global initiatives, such as ensuring freedom of navigation in the Strait of Hormuz and evacuating nationals from the Middle East. Lee and Takaichi’s meeting marks the continuation of their shuttle diplomacy, with the leaders meeting four times in seven months, solidifying the established diplomatic relationship between the two countries.
Later, Lee and Takaichi are set to attend a banquet dinner and a performance before the Japanese prime minister’s scheduled return home on Wednesday morning.
