On the first day of Japanese Prime Minister Sanae Takaichi's May 19-20 summit with South Korean President Lee Jae Myung in Andong, South Korea, the two signed a deal to cooperate on the supply and stockpiling of crude oil, liquefied natural gas and petroleum products, as well as on swap agreements for the same, Reuters reported on May 19. In addition, they pledged to cooperate on strengthening their supply chains for critical minerals.

Reports suggest the two also discussed defense cooperation, but only briefly, with Lee citing their recently formed vice ministerial security talks as proof of progress in institutionalizing defense dialogue.