Leaders of Korea, Australia agree to boost cooperation for stable energy supply
Summary
South Korean President Lee Jae Myung and Australian Prime Minister Anthony Albanese met in New York on Tuesday and agreed to work closely on stable regional energy supply chains. They discussed bilateral ties, defense industry cooperation, and international security on the sidelines of the United Nations General Assembly. The two leaders also reaffirmed their energy partnership and planned further communication, including Lee’s possible visit to Australia in the first half of next year.
Key Facts
- The meeting took place on the sidelines of the United Nations General Assembly in New York.
- Lee and Albanese said South Korea and Australia rely on each other for liquefied natural gas and petroleum products.
- The leaders agreed to cooperate closely to build stable and resilient regional supply chains.
- Albanese called South Korea a trustworthy partner in the critical minerals and clean energy sectors.
- This was Lee’s third bilateral summit with Albanese since Lee took office in June last year.
President Lee Jae Myung, left, and Australian Prime Minister Anthony Albanese shake hands during their meeting at the United Nations in New York, Tuesday. Yonhap
NEW YORK — South Korean President Lee Jae Myung held summit talks with Australian Prime Minister Anthony Albanese on Tuesday and agreed to cooperate closely to build stable regional energy supply chains.
The two leaders reached the agreement during the meeting on the sidelines of the United Nations General Assembly in New York, Lee's senior secretary for public affairs Seong Ghi-hong said in a press release.
The two leaders had a frank exchange of views on bilateral ties, energy supply chains, cooperation in the defense industry, as well as the international security situation, Seong said.
They, in particular, reaffirmed that South Korea and Australia are key partners that rely on each other for energy resources such as liquefied natural gas and petroleum products as the countries jointly respond to the energy crisis stemming from the conflict in the Middle East.
"Additionally, they resolved to cooperate closely to build stable and resilient regional supply chains," Seong said.
Albanese described South Korea as a trustworthy partner in the critical minerals and clean energy sectors, saying that the two countries have great potential to further advance cooperation, especially by combining South Korea's manufacturing capabilities and Australia's rich resources.
Lee agreed, urging the Australian leader to jointly seek opportunities for cooperation, according to the presidential official.
The leaders also pledged to cooperate in various other sectors as partners who share the same values amid global uncertainties, through close communication, including by pursuing Lee's visit to Australia in the first half of next year.
At the beginning of the meeting, Lee lauded the countries' bilateral cooperation, which he said had contributed to stabilizing South Korea's energy market amid the conflict in the Middle East.
"South Korea had experienced some disruption to its energy supply chains due to the conflict in the Strait of Hormuz, but its energy market remains relatively stable as Australia extended help and we worked together," Lee told Albanese.
The South Korean president thanked Albanese and said Seoul would cooperate with Australia as much as possible to help address problems facing the country.
Albanese highlighted that South Korea and Australia are like-minded countries with friendly relations, both pursuing multilateralism and security while cooperating closely in the economy and energy supply sectors.
Tuesday's meeting marks Lee's third bilateral summit with Albanese since the South Korean president took office in June last year.
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