Japan, Korea Agree To Boost Energy Co-Operation Amid Mideast War

(MENAFN- Gulf Times) Tokyo and Seoul have agreed to strengthen co-operation on securing energy supplies, Japanese Prime Minister Sanae Takaichi said during a visit to Republic of Korea Tuesday, as both nations grapple with the fallout of the Middle East war.

Takaichi said she and Republic of Korea President Lee Jae-myung outlined a framework to bolster energy stockpiles in the Asia Pacific and would work towards "enhancing energy security for both Japan and South Korea".

"Given the current international situation, co-operation between Japan and Republic of Korea on supply chains, including those for critical minerals, is important," Takaichi told a joint news conference after meeting with Lee.

Japan depends on the Middle East for about 95 percent of its oil imports, while Republic of Korea gets about 70 of its crude from the region.

Iran's effective closure of the vital Strait of Hormuz in retaliation for US-Israeli strikes on Tehran has rattled global energy markets.

The two leaders met in Lee's hometown of Andong four months after Takaichi hosted Lee in her own hometown of Nara in January.

Lee said they also discussed co-operation on technology related to space exploration and biohealth, among other issues.

He said he outlined Republic of Korea's vision "of building a peaceful Korean Peninsula" as both countries face challenges from nuclear-armed North Korea.

"Going forward, the possibilities for Republic of Korea-Japan partnership are limitless," Lee said at the news conference.

Sanae Takaichi energy supplies Middle East war energy security

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