Foreign Media: Japan-South Korea Summit to Establish Framework for Joint Oil Reserve Cooperation
According to Nikkei News, Japanese Prime Minister Sanae Takashi and South Korean President Yoon Jae-min are scheduled to hold a summit on Tuesday, May 19th, in Andong—the hometown of President Yoon. This will be their first meeting since January this year.
It is reported that both sides will establish a cooperation framework to ensure oil supply security, with core elements including advancing the construction of a joint oil reserve mechanism and jointly seeking financial support and technical assistance. This energy collaboration will be carried out under the existing energy cooperation frameworks between Japan, South Korea, and Southeast Asia.
Before her visit to South Korea, Prime Minister Takashi stated that this trip would involve "specific discussions" on energy cooperation with President Yoon. The report also noted that the two leaders are expected to exchange views on last week’s U.S.-China meeting.
The backdrop to this summit is the ongoing war in Iran, which continues to disrupt global energy supplies. As economies heavily dependent on oil imports, Japan and South Korea are actively seeking to strengthen their energy security safeguards.
Original article: toutiao.com/article/1865608761748554/
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