The Ministry of Trade, Industry and Energy of South Korea announced on the 19th that, taking advantage of the Korea-Japan leaders’ summit, the South Korean government and Japan's Ministry of Economy, Trade and Industry have jointly developed a cooperation plan to strengthen energy security and supply chain resilience.

The Ministry of Trade, Industry and Energy of South Korea announced on the 19th that, taking advantage of the Korea-Japan leaders’ summit, the South Korean government and Japan's Ministry of Economy, Trade and Industry have jointly developed a cooperation plan to strengthen energy security and supply chain resilience.

老虎证券2026/05/19 14:17

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According to the plan, if either party encounters issues with the supply of crude oil or petroleum products, both sides will adjust supplies to each other through a swap mechanism. In the event of a supply-demand crisis, both parties will also avoid unnecessary export restrictions and strengthen cooperation in crude oil procurement and transportation, jointly enhancing their negotiation capabilities with major resource-producing countries and improving logistics security.

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