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 South Korea and Japan are set to discuss extending their joint development agreement on a mining area known for its vast oil and gas reserves.
For the first time in nearly 40 years, officials from the two countries will meet in Tokyo on Friday to discuss the future of the Joint Development Zone (JDZ), an area believed to hold vast reserves of oil and natural gas.
The stakes are high, not only for the energy potential locked beneath the seabed but also for the delicate balance of regional diplomacy.
The JDZ, or Block 7 Mining Area, is defined by the continental shelf in the waters south of Jeju Island, west of Kyushu, and north of Okinawa.
The zone is thought to hold significant oil and natural gas deposits.
Korea and Japan agreed on joint development of the zone in 1974. The agreement is set to expire in June 2028, but either country could unilaterally terminate the pact as early as June 2025.
Japan has a reportedly one-sided desire for access to the area and resources. It has often deployed survey ships to conduct studies in the area, signaling its desire for the zone‘s resources.
Meanwhile, China has also sought to extend a claim to the area, further complicating the geopolitical landscape.
The meeting will be a “test bed” for the recent cooperation between Seoul and Tokyo.
Under the leadership of President Yoon Suk Yeol, Korea has improved relations with Japan in diplomacy and security, moving past historical grievances to focus on issues such as North Korea’s nuclear threat and supply chain security.
At a time when energy security and geopolitical stability are more crucial than ever, the meeting could set the tone for future relations between Korea and Japan.
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