Bridging the gap

From left, Federation of Korean Industries (FKI) Vice Chairman Kwon Tae-shin and Chairman Huh Chang-soo pose with top members of Japan’s ruling Liberal Democratic Party, including Secretary General Toshihiro Nikai, third from right, Ryuji Koizumi, second from right, and Motoo Hayashi, right, at the Japanese political party’s headquarters in Tokyo on Monday.

The Korean business representatives met with Japanese political leaders to discuss economic cooperation between Korea and Japan, including the possibility of reinstating the currency swap, which ended in February 2015.

Korea and Japan first signed a currency swap deal in July 2001 valued at $2 billion. It expanded to $30 billion in 2008 and $70 billion in 2011.

The FKI and Japan’s Liberal Democratic Party have also agreed to hold a business meeting in Seoul in October.

[YONHAP]