Vice FM discusses energy, supply chain cooperation with IEA, OECD
Second Vice Foreign Minister Kim Jina, left, shakes hands with International Energy Agency Executive Director Fatih Birol in Paris, Wednesday. Courtesy of Ministry of Foreign Affiairs
Second Vice Foreign Minister Kim Jina has discussed cooperation in energy and supply chain resilience with the International Energy Agency (IEA) and member nations of the Organization for Economic Co-operation and Development (OECD), the foreign ministry said Friday.
Kim met with IEA Executive Director Fatih Birol in Paris on Wednesday (local time) and agreed to explore joint responses to energy crises, particularly in addressing vulnerabilities arising from East Asia's heavy dependence on Middle Eastern crude oil amid the Middle East conflict.
Birol expressed appreciation for Korea's active cooperation in the release of strategic oil reserves during recent energy crises while stressing the need to strengthen cooperation with non-member countries and other stakeholders to ensure stable energy supply chains, the ministry said.
Korea pledged to release 22.46 million barrels of oil from its strategic reserves by June 9 under a joint plan adopted by 32 member countries of the IEA to help mitigate disruptions in global oil markets.
Also in Paris, Kim attended the OECD Ministerial Council Meeting on Wednesday and Thursday, currently chaired by Finland, with Korea and New Zealand serving as vice chair countries.
At the meeting, the vice foreign minister emphasized the need for stronger cooperation in energy and supply chain resilience, as well as in enhancing competitiveness and inclusiveness in artificial intelligence (AI), the ministry said.