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Korea and Japan “to pursue crude oil and LNG swaps”



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Korea and Japan “to pursue crude oil and LNG swaps”

입력 2026.05.20 07:16

  • By Kim Yun-Na-Young

This article was translated by an AI tool. Feedback Here.

105-minute summit in Andong

Korea and Japan met again four months after the Nara Prefecture summit President Lee Jae Myung guides Japanese Prime Minister Takaichi Sanae to her seat before holding a summit at a hotel in Andong, North Gyeongsang Province, on the 19th. Cheong Wa Dae Press Photo Corps

Korea and Japan met again four months after the Nara Prefecture summit President Lee Jae Myung guides Japanese Prime Minister Takaichi Sanae to her seat before holding a summit at a hotel in Andong, North Gyeongsang Province, on the 19th. Cheong Wa Dae Press Photo Corps

Expand information sharing amid a Middle East-driven crisis
President Lee: “Agreed on the need for cooperation”
Also discussed North Korea, including nuclear and missile issues
Takaichi: “Coordinated response among South Korea, the United States, and Japan”

President Lee Jae Myung and Japanese Prime Minister Takaichi Sanae agreed to strengthen cooperation in crude oil, petroleum products, and liquefied natural gas (LNG) to jointly respond to instability in the Middle East. The two leaders welcomed the launch of DNA testing procedures for the remains of victims of the Josei coal mine flooding accident, as agreed in January.

After holding a summit at a hotel in Andong, North Gyeongsang Province, on the 19th, President Lee and Prime Minister Takaichi announced this in a joint press statement.

President Lee said, “We agreed that the need for close cooperation between our two countries has grown regarding instability in supply chains and energy markets arising from recent developments in the Middle East,” and added, “Based on the LNG supply cooperation agreement concluded in March, we will expand LNG cooperation between our countries and deepen information sharing and communication channels related to crude oil supply and stockpiling.” Prime Minister Takaichi also said, “I share the intention of President Lee to begin cooperation to strengthen the energy security of both countries, including mutual accommodation and swap transactions for crude oil, petroleum products, and LNG.”

The presidential office said that specific implementation measuressuch as swaps and mutual supply of crude oil and petroleum products, and cooperation in crude oil procurement and transportationwill be consulted on by the industrial authorities of both countries and then announced.

President Lee said, “DNA testing of the remains excavated from the Josei coal mine in Japan will begin soon,” calling it “a small but meaningful first step.” The Josei coal mine is a subsea coal mine off Ube in Yamaguchi Prefecture, Japan, where 183 people, including 136 Koreans who were forcibly mobilized in 1942 during the Japanese colonial period, died in a flooding accident.

Senior Presidential Spokesperson Kang Yu-jung said, “The National Forensic Service and the Japanese police will conduct DNA analysis, and the two countries will cooperate to carry out identity verification procedures.”

The two leaders also discussed the North Korea issue. President Lee said, “We will build a ‘Korean Peninsula of peace with no need to fight,’ where the South and the North coexist peacefully and grow together.” Prime Minister Takaichi said, “We discussed responses to North Korea, including the nuclear and missile issues, and reaffirmed that Japan and South Korea, as well as Japan, South Korea, and the United States, will respond in close coordination.” Regarding the abductions of Japanese nationals by North Korea, she added, “I once again express my gratitude for President Lee’s stated support for an immediate resolution.”

President Lee said, “Including today’s meeting, Prime Minister Takaichi and I have sat down together four times in seven months,” adding, “This means shuttle diplomacy has fully taken root, allowing the leaders of the two countries to meet and communicate as needed without being bound by formality.” Prime Minister Takaichi said, “I am very pleased to be able to practice shuttle diplomacy in Andong, the hometown of President Lee.” This summit took place four months after the meeting in January in Nara Prefecture, Japan, the hometown of Prime Minister Takaichi.

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