By Kang Yoon-seung
SEJONG, Sept. 8 (Yonhap) — The Korea Customs Service reported on Friday that it had held its first bilateral meeting with its Japanese counterpart in seven years, indicating a possible improvement in economic relations between the two countries.
Commissioner Ko Kwang-hyo and his Japanese colleague convened in Seoul the day before to talk about a range of topics, the first such meeting since 2016. Discussions included global protectionism and the increasing worry of trade-related crimes, such as drug trafficking.
“The two customs agencies shared their understanding of the seriousness of cross-border crimes, including drugs, as well as trade that violates international rules and sanctions,” the South Korean authority said.
The two countries agreed to continue exchanging related information and carrying out joint crackdown measures. This comes after South Korea and Japan pledged in June to take full-fledged steps to normalize their ties, including the resumption of a US$10 billion currency swap deal.
In 2019, the relationship between South Korea and Japan took a downturn after Japan imposed export restrictions on South Korea in response to South Korean Supreme Court rulings that required Japanese firms to compensate South Korean victims of forced labor during Japan’s 1910-45 colonial rule of the Korean Peninsula.
Relations between South Korea and Japan began to improve this year when South Korea proposed to settle the forced labor issue by compensating victims without asking for contributions from Japan.
The customs agency also said it plans to hold talks with Saudi Arabia, Uzbekistan, and Mongolia by the end of this year to further stimulate exports.
Commissioner Ko Kwang-hyo (L) poses for a photo with his Japanese counterpart during a meeting in Seoul on Sept. 7, 2023, in this photo released by the Korea Customs Service on Sept. 8. (PHOTO NOT FOR SALE) (Yonhap)
colin@yna.co.kr
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