Diplomacy Journal David Kendall | Korea's Ministry of Trade, Industry and Resources (MOTIR) announced March 16 that Minister JK (Jung-Kwan) Kim attended the inaugural Indo-Pacific Energy Security Ministerial (IPEM) in Tokyo on March 14–15, 2026.

Co-hosted by Japan's Ministry of Economy, Trade and Industry (METI) and the U.S. National Energy Dominance Council, the IPEM was sponsored by the U.S. Trade and Development Agency and Departments of State, Interior, Energy, and Commerce. The ministers, CEOs and senior leaders were convened to "advance the integration of energy security and national security objectives through high-level dialogue and actionable outcomes," according to its official website.

The MOTIR statement -- reprinted below -- emphasized the bilateral discussions on industry, trade, and global supply chains held while Minister Kim was in Japan and met with Minister Akazawa Ryosei of Japan's METI:

Amid heightened global uncertainty, Korea and Japan have remained in close coordination on supply chains and energy security. Against this backdrop, the two sides agreed to launch the Korea–Japan Industrial and Trade Policy Dialogue, a regular consultative channel between MOTIR and METI, to review and manage bilateral agendas across trade, economic security, supply chains, steel, and mineral resources:

The two sides also underscored the importance of closer Korea–Japan cooperation to help stabilize LNG supply, given that both countries are among the world's leading LNG importers. Korea Gas Corporation and JERA signed an Operational Cooperation Agreement covering LNG supply arrangements, including LNG swaps. The agreement establishes a framework for joint action in the event of an LNG supply disruption. The two sides agreed to expand practical follow-up measures at an early date, including the implementation of LNG swaps, to support stable LNG supply and demand in both countries.

Minister Kim said, "As uncertainty grows amid shifts in the global trade environment, heightened volatility in energy and resource markets, and supply chain risks, Korea and Japan, as like-minded partners, have remained in close coordination. Building on 60 years of normalized diplomatic relations, the two countries will continue to advance forward-looking and mutually beneficial industrial and trade ties."

Before the meeting, the two sides signed the Korea–Japan Supply Chain Partnership Arrangement (SCPA), establishing a framework for joint responses to supply chain disruptions and broader industrial ties. Under the partnership, Korea and Japan will endeavor to minimize unnecessary measures that could affect each other's supply chains and to share information when signs of disruption emerge. They also plan to deepen supply chain ties by expanding joint exploration, investment, and technological collaboration in critical minerals and other resources.

The Korea Times reported on March 16 that the governments of Korea and the United States signed a bilateral memorandum of understanding for critical minerals cooperation and agreed to develop joint projects and related investments. That article also said Korea's Hanwha Aerospace Co. agreed to purchase 1.5 million tons of LNG from U.S.-based Venture Global over 20 years.

U.S. President Donald Trump established the National Energy Dominance Council by executive order on February 14, 2025.