S. Korean, Japanese finance ministers vow efforts to form stronger economic ties

South Korea's Finance Minister Choi Sang-mok has met with the new Japanese finance chief, Katsunobu Kato, and discussed ways to strengthen economic ties between the two countries, his office said Friday.

Choi held his first meeting with Kato in Washington, DC, on Thursday on the sidelines of the Group of 20 Finance Ministers and Central Bank Governors Meeting, according to the Ministry of Economy and Finance.

During the meeting, the two sides agreed to maintain close communication and make joint efforts to deepen bilateral economic relations, as Seoul and Tokyo will mark the 60th anniversary of diplomatic normalization next year.

They also agreed to cooperate on responses to the foreign exchange market and other economic and financial issues.

Choi and Kato shared the need to continue the trilateral finance ministers' meeting involving the United States next year. The three nations held the inaugural finance ministers' meeting in April 2024 and discussed ways of stronger cooperation on the economy and finance.

While in Washington, Choi also met with Ukraine's Finance Minister Sergii Marchenko to discuss enhancing economic cooperation for Ukraine's recovery.

Choi held separate talks with Finnish Finance Minister Riikka Purra to exchange views on addressing population aging and demographic challenges, as well as boosting cooperation on the supply chains of major industrial minerals.

In a meeting with Australia's Treasurer Jim Chalmers, Choi introduced South Korea's carbon-free energy initiative and sought Australia's support for South Korean companies looking to participate in key mineral projects. (Yonhap)