ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Banking & Finance

Japan, South Korea put off financial talks until 2018

Renewed tensions over 'comfort women' issue remain a roadblock

TOKYO -- Japan and South Korea will postpone financial talks planned for this year in light of political tensions, looking to reschedule if other international talks go well.

This country was to host the bilateral financial dialogue in 2017, bringing together finance ministers as well as tax, budget and international finance officials from both sides to discuss economic and financial challenges. But bilateral relations hit a rough patch after a statue commemorating wartime "comfort women" was installed outside the Japanese Consulate in Busan in December 2016, and tensions over the issue persist.

Japan in January called off working-level talks on a currency swap arrangement over the statue. But resuming those talks is not particularly urgent, according to an expert in international finance. South Korea renewed a currency swap agreement with China in October for another three years, and despite tensions in the region over North Korea's missile and nuclear weapons development, there is no sign of an impending plunge in the won that would require emergency dollar funding.

The two sides look to reschedule the meeting based on how other talks proceed, including a summit that Japan hopes to host soon with the leaders of China and South Korea.

(Nikkei)

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends June 30th

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media