Paris: Second Vice Foreign Minister Kim Jina has engaged in discussions on 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 announced Friday.
According to Yonhap News Agency, Kim met with IEA Executive Director Fatih Birol in Paris on Wednesday, where they agreed to explore collaborative responses to energy crises. The discussions particularly focused on addressing vulnerabilities stemming from East Asia's substantial reliance on Middle Eastern crude oil amid the ongoing Middle East conflict.
Birol expressed appreciation for South Korea's proactive cooperation in the release of strategic oil reserves during recent energy crises. He emphasized the necessity to enhance cooperation with non-member countries and other stakeholders to ensure stable energy supply chains, as reported by the ministry.
South Korea has committed to releasing 22.46 million barrels of oil from its strategic reserves by June 9. This action is part of a joint plan adopted by 32 IEA member countries to help mitigate disruptions in global oil markets.
In addition to the IEA meeting, Kim attended the OECD Ministerial Council Meeting on Wednesday and Thursday in Paris. The meeting was chaired by Finland, with South Korea and New Zealand serving as vice chair countries.
During the meeting, the vice foreign minister underscored the importance of stronger cooperation in energy and supply chain resilience. He also highlighted the need for enhancing competitiveness and inclusiveness in artificial intelligence (AI), according to the ministry.