On May 14, Japanese Prime Minister Takaichi announced that Tokyo and Seoul will conduct joint research to bolster energy security, amid escalating geopolitical tensions and risks of global supply chain disruptions.
The statement was made during a bilateral high-level meeting, emphasizing the need to diversify supply sources and reduce dependence on traditional energy imports. The two countries will focus on building coordination mechanisms in renewable energy, hydrogen, and nuclear safety.
The move comes after a regional energy crisis triggered by sanctions and armed conflicts, prompting many Asian economies to seek contingency solutions. Japan and South Korea are major energy importers, accounting for nearly 30% of total oil and gas imports in Northeast Asia.
The research report is expected to be completed within six months, offering specific recommendations for establishing joint strategic reserves and developing cross-border energy infrastructure. The two governments also pledged to enhance cooperation with ASEAN countries in the clean energy supply chain.
Prime Minister Takaichi stressed: “In a volatile world, energy security is not just an economic issue but a vital factor for peace and prosperity in the region.” Experts believe this collaboration could significantly reduce the two countries' risk from global energy price shocks.
