At a meeting scheduled for 2 p.m. at Cheong Wa Dae in central Seoul, the two are expected to discuss ways to make energy supplies more stable and strengthen regional cooperation in the Asia-Pacific.
They will also discuss other topics including trends in global energy markets, recent developments in the prolonged conflict in the Middle East, and the severe flooding in Nepal that struck last month, leaving thousands of people still missing.
Birol recently led a coordinated release of 400 million barrels from strategic oil reserves held by IEA member countries to help ease pressure on global oil supplies following disruptions in the Strait of Hormuz.
South Korea has also worked closely with the IEA on energy security and climate change by co-hosting the World Climate Industry Expo since 2024.
Established in 1974 following the 1973~1974 oil shock, the IEA is an autonomous organization within the Organisation for Economic Cooperation and Development (OECD). It was created to coordinate international responses to energy supply disruptions and has since expanded its work beyond oil to include electricity, natural gas, renewable energy, critical minerals and climate change.
South Korea joined the IEA in 2002.
AJP Takeaways
- President Lee Jae Myung will meet International Energy Agency Executive Director Fatih Birol at Cheong Wa Dae to discuss Asia-Pacific energy cooperation and supply stability.
- The talks will cover global energy markets, the Middle East conflict and Nepal's recent flooding.
- The meeting follows the International Energy Agency's release of 400 million barrels from strategic oil reserves amid disruptions in the Strait of Hormuz.
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