President Lee Jae-myung of South Korea and Japanese Prime Minister Sanae Takaichi agreed on May 18, 2026, to strengthen cooperation on energy supply chains, including crude oil and liquefied natural gas (LNG), according to a joint statement released after their summit in Seoul.
The agreement aims to bolster energy security amid global market volatility and supply disruptions. Both leaders emphasized the need for stable energy supplies and committed to joint stockpiling and emergency response mechanisms.
This cooperation extends to LNG procurement and infrastructure investment, with both nations seeking to diversify sources and reduce dependence on any single supplier. The deal also includes collaboration on clean energy technologies and carbon neutrality goals.
The summit marked the first bilateral meeting between Lee and Takaichi since she took office in 2025. The two leaders also discussed broader economic security and regional stability issues.
