Japan and South Korea have agreed to strengthen bilateral energy co-operation in response to disruptions linked to the Strait of Hormuz crisis and wider instability in the Middle East.
South Korean President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi announced plans for joint oil-reserve storage, refined petroleum sharing, and liquefied natural gas (LNG) swap arrangements aimed at improving regional energy security and supply-chain resilience.
Key developments include:
- Joint storage and sharing of oil reserves and refined fuel supplies, including jet fuel
- Expanded LNG swap arrangements between Tokyo and Seoul
- Discussions on wider Asian resource supply-chain co-operation
- Continued trilateral security co-ordination with the United States
The agreement reflects improving Japan–South Korea relations amid concerns over global energy markets, China, North Korea, and regional geopolitical uncertainty.
Tourism and diplomatic engagement between the two countries have also continued to increase in recent years.
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