President Lee: "Strengthening Korea-Japan LNG and Crude Oil Cooperation... Deepening Stockpiling Information Sharing"

Joint Press Statement Following Korea-Japan Summit

Leaders of Both Countries Emphasize Importance of Energy Cooperation

Korea and Japan Reaffirm the Importance of Korea-Japan-U.S. Trilateral Cooperation

Lee: "Hope to Further Expand Fu

The governments of South Korea and Japan have agreed to strengthen cooperation on LNG and crude oil, marking this as a key outcome of the summit between President Lee Jae-myung and Japanese Prime Minister Sanae Takaichi.

Immediately following the summit held at a hotel in Andong, Gyeongbuk, President Lee made this announcement during a joint press briefing with Prime Minister Takaichi, stating, "Based on the 'LNG Supply Cooperation Agreement' signed in March, the two countries will expand LNG cooperation and deepen information sharing and communication channels regarding crude oil supply and stockpiling."

President Lee Jae-myung and Japanese Prime Minister Sanae Takaichi shake hands ahead of an expanded summit at a hotel in Andong, Gyeongbuk, on May 19, 2026. Photo by Yonhap News

On March 14, Korea Gas Corporation and JERA, Japan's largest power company, signed an agreement to ensure a stable supply of natural gas. Both countries have agreed to refrain from taking actions that could negatively impact each other's supply chains, and to strengthen crisis response cooperation by sharing information if signs of supply chain disruption emerge.

President Lee stated, "We agreed that, given the instability of supply chains and energy markets stemming from recent developments in the Middle East, there is a heightened need for close cooperation between our two countries." He added, "Based on this shared understanding, the two countries have reviewed the achievements of the 'Korea-Japan Supply Chain Partnership' signed in March and have agreed to further expand supply chain cooperation."

President Lee further noted, "Prime Minister Takaichi proposed that South Korea and Japan work closely together to deepen resource supply chain cooperation with other Asian countries facing supply chain crises." He added, "I expressed my agreement and my intention to actively participate."

Additionally, President Lee reaffirmed the importance of Korea-Japan and Korea-U.S.-Japan cooperation for regional peace and stability amid rapidly changing international circumstances, emphasizing, "The recent elevation of the Korea-Japan Security Policy Consultation to the vice-ministerial level for the first time is a highly significant advancement."

He went on to say, "Given that Northeast Asia is closely interconnected in various aspects such as the economy and security, I stressed the importance of mutual respect, cooperation, and the pursuit of common interests among South Korea, China, and Japan to achieve genuine peace and stability in the region."

President Lee Jae-myung and Japanese Prime Minister Sanae Takaichi are holding an expanded summit meeting at a hotel in Andong, Gyeongbuk on May 19, 2026. Photo by Yonhap News

The summit also included discussions on the situation on the Korean Peninsula. President Lee remarked, "I explained our government's commitment to building a 'peaceful Korean Peninsula with no need for conflict,' where the South and North can coexist peacefully and grow together."

Regarding the commencement of DNA analysis on remains excavated from the Josei coal mine, President Lee commented, "This will be a small but meaningful first step for both countries to cooperate on humanitarian issues related to historical matters."

He noted, "Including today's meeting, Prime Minister Takaichi and I have sat down together no less than four times in the last seven months. This demonstrates that shuttle diplomacy, where the leaders of both countries can meet and communicate whenever necessary without being bound by formality, is now firmly established."

He concluded, "As we mark a new 60th anniversary in Korea-Japan relations, I look forward to further expanding future-oriented cooperation that the people of both countries can truly feel."

This content was produced with the assistance of AI translation services.