Connect with us

Hi, what are you looking for?

Right Decision NowRight Decision Now

World News

Japan, South Korea hold first finance leaders’ meeting in 7 years

– Japan and South Korea held their first bilateral finance leaders’ meeting in seven years on Tuesday, a sign relations between the two are thawing as they confront shared challenges from geopolitical tensions and slowing economic growth.

The two countries agreed to resume regular finance dialogue “at an appropriate timing,” Japanese Finance Minister Shunichi Suzuki told reporters after the meeting.

The dialogue will likely be held on an annual basis, Suzuki said.

The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida’s planned visit to South Korea next week for talks with President Yoon Suk Yeol.

Japan and South Korea are important neighbours that must cooperate to address various challenges surrounding the global and economy, as well as the regional and international community,” Suzuki said at the meeting with his South Korean counterpart Choo Kyung-ho.

“As for geo-political challenges, we’re experiencing incidents like North Korea‘s nuclear missile development and Russia’s invasion of Ukraine. Japan sees these as unacceptable, and something the two countries must address together,” he said.

Choo said the two countries can strengthen private and government partnerships in high-technology industries such as semiconductors and batteries.

In the meeting held on the sidelines of the Asian Development Bank (ADB) gathering this week, Choo also urged Japan to swiftly restore South Korea back to a “white list” of countries with fast-track trade status.

Choo is expected to visit Japan this year for another meeting with Suzuki, South Korea‘s finance ministry said.

Regular annual dialogue between the two countries’ finance ministers has been suspended since 2016 due to disputes over wartime history.

But ties between the U.S. allies have improved in recent months in the face of North Korea‘s frequent missile launches and China’s more muscular role on the global stage.

In a landmark summit in Tokyo last month, Kishida and Yoon agreed to put aside their difficult shared history and pledged to work together to counter regional security challenges.

Suzuki said he hoped Japan and South Korea can continue with bilateral financial dialogue and that doing so would contribute to improving relations between the two countries. – Reuters

    You May Also Like


    The head of the International Monetary Fund has warned of increased risks to the stability of the financial system after weeks of banking sector...


    The Home Office has made next to no progress in tackling criminal fraud during the past five years, despite it having become Britain’s most...


    Mark Zuckerberg has laid off more than 11,000 Meta’s employees, about 13 per cent of its global workforce, in what he described as “some...


    1.22 billion people use Instagram every month. That’s a huge number of Instagrammers trying to hit it big on the platform all at the...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 | All Rights Reserved