Japan, South Korea set to agree on oil cooperation, Nikkei says

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, 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 Southeast ​Asia, the Nikkei reported. The two leaders are also expected to share information ⁠on last week's meeting between U.S. President Donald Trump ⁠and ⁠Chinese President Xi Jinping in Beijing, according to the report.

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