Japan PM Applauds Trust With South Korea After Landmark Summit

Jon Herskovitz
·3 min read
8
  • Oops!
    Something went wrong.
    Please try again later.

(Bloomberg) -- Japanese Prime Minister Fumio Kishida finished a landmark visit to Seoul with pledges to seek cooperation on high-tech goods and commitments on a renewed reliance between the two countries who are key to US security policies.

Most Read from Bloomberg

Kishida on Monday said his summit a day earlier with South Korean President Yoon Suk Yeol helped him “deepen the relationship of trust,” as the two leaders hailed a resumption of shuttle diplomacy and cooperation on items such as semiconductors.

Before returning to Tokyo, Kishida met leaders of major South Korean business associations for discussions focused on expanded economic cooperation in securing supply chains for items including chips, South Korean industry officials said.

The visit marked the first formal summit in Seoul between the neighbors in a dozen years. South Korea and Japan were able to turn the corner on troubled ties in March after Yoon proposed a plan to mend a rift over compensation for Koreans conscripted to work at Japanese factories and mines during the country’s 1910-1945 colonial rule over the peninsula.

The friction hurt trade and security cooperation, and caused headaches for the Biden administration as it sought help from its partners in securing global flows of key materials that were less dependent on China.

Yoon’s proposal, which involves South Korean firms contributing to a compensation fund for the conscripted workers, has not been well-received by the majority of the local public. Any tangible benefits from rapprochement with Japan would be welcome for the president as his conservative People Power Party tries to reclaim control of parliament in elections less than a year away.

“I would like to further strengthen the relationship of trust I have with President Yoon and work together to open up a new era,” Kishida said in Seoul before returning to Tokyo.

The two are due to meet again this month when Japan hosts a summit of the leaders of the the Group of Seven nations in Kishida’s hometown of Hiroshima. Yoon, the Japanese premier and US President Joe Biden plan to have three-way discussions on the sidelines of the meeting.

Yoon, a security hawk who took office about a year ago, has stepped up joint military exercises with the US, some of which have also included Japan. The training has involved drills on intercepting missiles and hunting submarines — items that have taken on greater importance as North Korea has been deploying new systems to deliver strikes in the air and at sea.

Read: Kim’s Rare Display of Nuclear Warheads Sends Chilling Message

Japan and South Korea are treading a delicate balance between China, their biggest trading partner, and the US, their main security ally. Their position has become even more difficult as Washington and Beijing squabble over everything from technology, to an alleged Chinese spy balloon being shot down over American skies and China’s partnership with Russian President Vladimir Putin.

--With assistance from Takashi Hirokawa, Sangmi Cha, Shinhye Kang and Seyoon Kim.

Most Read from Bloomberg Businessweek

©2023 Bloomberg L.P.