TOKYO: Japanese Prime Minister Sanae Takaichi and South Korean President Lee Jae Myung are set to agree on a cooperative framework for securing crude oil supplies including joint stockpiling, when they meet for a summit on Tuesday (May 19), the Nikkei business daily reported.
The summit in Lee's hometown of Andong will be their first since January. Ahead of her visit, Takaichi said she would have "concrete discussions on energy cooperation" with Lee.
Both nations will work to secure financial and technical support to build an oil stockpiling system, the report said. The initiative will use a framework for energy cooperation with South-East Asia, the Nikkei reported.
The two leaders are also expected to share information on last week's meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing, according to the report. - Reuters
