Takaichi said she and South Korean President Lee Jae Myung outlined a framework to bolster energy stockpiles in the Asia Pacific and would work towards "enhancing energy security for both Japan and South Korea".
"Given the current international situation, cooperation between Japan and South Korea on supply chains, including those for critical minerals, is important," Takaichi told a joint news conference after meeting with Lee.
A view of South Korean and Japanese national flags in Tokyo, Japan, March 16, 2023. Photo by Reuters
Japan depends on the Middle East for about 95% of its oil imports, while South Korea gets about 70% of its crude from the region.
Iran's effective closure of the vital Strait of Hormuz in retaliation for U.S.-Israeli strikes on Tehran has rattled global energy markets.
