S. Korea, Japan agree to boost supply chain, energy cooperation

SEOUL, May 19 (Yonhap) -- President Lee Jae Myung said Tuesday he and Japanese Prime Minister Sanae Takaichi agreed to further enhance cooperation on supply chains amid the continuing conflict in the Middle East, as well as in securing crude oil and liquefied natural gas (LNG) supplies.

Lee made the remarks as he and Takaichi announced the results of their summit held at a hotel in his hometown of Andong, 190 kilometers southeast of Seoul.

"We agreed that close bilateral cooperation is needed more than ever amid the instability in supply chains and energy markets arising from the recent situation in the Middle East," Lee said, adding that they concurred on the need to promptly restore peace in the region.

"Based on this shared understanding, our two countries ... resolved to further expand our bilateral supply chain cooperation," the president noted.

He said the two countries also agreed to further strengthen cooperation in the LNG and crude oil sectors, calling them key energy sources for both countries.

"We agreed to expand bilateral LNG cooperation while further strengthening channels for information sharing and communication regarding crude oil supply and stockpiling," he told a live-televised joint press event.

At the opening of the summit Lee called Japan an important partner, emphasizing the need to cooperate more closely to overcome the rainstorm on the global stage.

"Now, a rainstorm is sweeping the global situation. It is a time when cooperation and communication among like-minded countries are needed more than ever," Lee said.

"Judging from the way (our two countries) have worked together to address challenges arising from the international situation, I am reminded how both countries are important partners for cooperation," he added.

The president highlighted the two countries' joint participation in global efforts to ensure freedom of navigation in the conflict-stricken Strait of Hormuz, as well as their cooperation in evacuating their nationals from the Middle East.

"Amid various difficulties, the solid friendship between our countries is shining more brightly than ever," he said.

Takaichi arrived at Daegu International Airport shortly before noon for a two-day trip, reciprocating Lee's visit to her hometown of Nara Prefecture in January when the two last met in person as part of the neighboring countries' ongoing "shuttle diplomacy."

After emerging from her plane with a bright smile, the Japanese leader was received by South Korea's Second Vice Foreign Minister Kim Jina before heading to Andong.

Around 170 police officers and 40 patrol cars and motorcycles were deployed at and around the airport to ensure safety during Takaichi's arrival.

Shortly after her arrival in Andong, Lee welcomed Takaichi with a hug at the entrance of a hotel, wearing a light sky-blue tie that matched the color of the Japanese leader's suit.

"You have gone to great trouble to come all the way to this small city," Lee told Takaichi before ushering her into the hotel, according to a pool report.

Following her summit with Lee, the two leaders will make a joint press announcement on the results of their meeting, followed by a banquet dinner and a performance.

The Japanese prime minister is scheduled to return home Wednesday morning.