South Korea, Japan discuss economic cooperation during vice-ministerial talks

SEOUL: South Korea and Japan held a vice-ministerial meeting on Friday to discuss ways of cooperating on a wide range of economic and financial issues, Seoul’s finance ministry said.

South Korea’s Deputy Finance Minister Choi Ji-young met with Japanese Vice Finance Minister Masato Kanda in Tokyo earlier in the day for the vice-ministerial finance dialogue, the second of its kind, according to the Ministry of Economy and Finance, Yonhap news agency reported.

During the meeting, the two sides discussed issues of mutual concern, including the situation in the global economic and financial markets, and explored ways of working more closely on those matters.

They also discussed the envisioned meeting of their finance ministers, as the last one took place in Tokyo in June last year for talks on stronger bilateral relations in the financial and economic fields.

“The two officials agreed to continue both high-level and working-level cooperation and consultations closely and agreed to hold their next meeting in Seoul,” the ministry said.

The dialogue was launched in June of last year, as the two nations have sought to enhance bilateral economic relations amid a recent thaw in the bilateral diplomatic relationship.

Last year, Seoul and Tokyo revived a US$10 billion currency swap deal, which expired in 2015.