South Korea and Japan agreed to strengthen bilateral and multilateral cooperation in various financial and economic areas during the Ninth ROK-Japan Finance Ministerial Dialogue held in Seoul on Tuesday. The two countries also committed to addressing common challenges and global issues, such as sustainable growth, low birth rates and debt vulnerabilities in developing countries.

South Korean and Japanese finance ministers Choi Sang-mok and Shunichi Suzuki acknowledged the gradual global economic recovery but also the uncertainties that remain, including geopolitical conflicts, potential slowdowns in major trading partners and increased foreign exchange market volatility.

The ministers welcomed progress in key areas of