Japan, South Korea to discuss FX swop deal in first finance talks since 2016

Japan and South Korea will be having their first cooperative finance discussion in seven years on Thursday, with both looking to re-establish ties as they face common geostrategic problems from an increasingly forceful China and an unsure North Korea. Japanese Finance Minister Shunichi Suzuki and his South Korean counterpart, Choo Kyung-ho, are tentatively going to agree on the requirement to restore an expired bilateral currency.

The swop deal which was dead in 2015 amid deteriorating rapports over issues concerned with Japan’s wartime occupation of the Korean Peninsula, and its fixing would symbolise the upgradation and strengthening of relations, analysts say. It was never used. The ministers will also talk about global economic growth, infrastructure investment in growing nations, and the role both nations could play in multilateral financial cooperation.