Japan and South Korea held their first bilateral finance dialogue in seven years on June 29, amidst rising geopolitical concerns involving China and North Korea. The finance ministers of both nations, Shunichi Suzuki of Japan and Choo Kyungho of South Korea, met in Tokyo. They discussed restoring a bilateral currency swap deal that expired in 2015 amidst deteriorating relations over historical issues. The restoration would symbolise an improvement in ties. They also addressed global economic developments, infrastructure investment in developing countries, and potential roles in multilateral financial cooperation. The move came as both nations face challenges posed by North Korea’s nuclear missile development and geo-strategic risks in the region.
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