President Lee Jae Myung (right) and Japanese Prime Minister Sanae Takaichi on May 19 hold a joint news conference at a hotel in Andong, Gyeongsangbuk-do Province.

By Xu Aiying
Photos = Cheong Wa Dae

President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi on May 19 agreed to raise bilateral cooperation in energy and supply chains.

Both leaders announced the results of their talks at a joint news conference in Andong, Gyeongsangbuk-do Province.

"Given growing instability in supply chains and energy markets due to the recent situation in the Middle East, we agreed that the need for closer cooperation between our two countries is even more crucial," the president said. "Based on a cooperation agreement on liquefied natural gas (LNG) supply and demand signed in March, we agreed to expand LNG cooperation and boost information sharing and communication channels related to crude oil supply and demand and stockpiling."

The two sides also reaffirmed the importance of Seoul-Tokyo ties and trilateral cooperation with the U.S. for regional peace and stability amid rapidly changing global circumstances.

President Lee said, "Northeast Asia is closely interconnected in many aspects like economy and security, so Korea, China and Japan must respect one another, cooperate and seek common interests to achieve genuine peace and stability in the region."

On inter-Korean ties, he said, "I explained our government's position to build a peaceful Korean Peninsula where there's no need to fight and both South and North coexist peacefully and grow together."

Moreover, the two leaders agreed to expand forward-looking cooperation based on practical cooperation measures covering a range of fields as discussed in their summit in January.

"There are endless opportunities for Korea and Japan to cooperate," he said. "I look forward to continuously developing people-centric cooperation initiatives that allow both sides to prosper together and enable people to tangibly feel the benefits."

President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi on May 19 watch the traditional fireworks festival Seonyu Julbul Nori after their summit in Hahoe Village of Andong, Gyeongsangbuk-do Province.

xuaiy@korea.kr