Japan and South Korea to Enhance Energy Cooperation

May 20, 2026

52 min

May 20, 2026 05:30

Japan, South Korea to launch new energy cooperation framework

## New Energy Framework Announced

Japan and South Korea have agreed to establish a new framework to enhance their energy cooperation. This initiative aims to stabilize the supply of crude oil, petroleum products, and liquefied natural gas (LNG) amid rising tensions in the Middle East.

## $10 Billion Support Scheme

The two countries will collaborate under a $10 billion support scheme, initially announced by Japan in April, to help Asian nations secure oil supplies. South Korea is actively participating in this framework.

## Policy Dialogue and Strategic Reserves

A policy dialogue will be set up to focus on two main areas: securing strategic oil reserves for the Indo-Pacific and providing mutual support with petroleum products and LNG during emergencies. This dialogue is part of efforts to ensure robust supply chains for critical minerals.

## Regional Cooperation

South Korean President Lee Jae Myung emphasized the importance of cooperation among South Korea, China, and Japan for regional peace and stability. Japanese Prime Minister Sanae Takaichi echoed these sentiments, highlighting the limitless possibilities for bilateral cooperation.

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