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

© Reuters. South Korean Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho, Japanese Finance Minister Shunichi Suzuki, Wang Dongwei, a vice finance minister of China, Governor of Bank of Japan Kazuo Ueda, Deputy Director General of People’s Bank

By Leika Kihara and Jihoon Lee

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

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

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

The meeting, which was held on the sidelines of the Asian Development Bank (ADB) meetings this week, follows North Korea’s frequent missile launches and comes amid China’s more muscular role on the global stage.