Japan, S.Korea leaders summit

Japanese Prime Minister Yoshihiko Noda and South Korean President Lee Myung-bak have agreed to expand mutual currency support to help stabilize markets shaken by Europe's debt crisis.

The 2 leaders met at the South Korean presidential office in Seoul on Wednesday.

They agreed to increase the amount of dollars, yen and other currencies covered in the support plan by 5 times, to a value of 70 billion dollars.

The move will help prop up the South Korean won which has been losing strength in the foreign exchange market due to the European debt crisis.

At the meeting, Noda also handed over 5 volumes of an ancient Korean archive from the Joseon Dynasty. The documents had been stored in Japan since its colonial rule of the Korean Peninsula.

Lee said the handover is symbolic of the path the 2 countries will follow in the future. Noda said despite difficulties between Japan and South Korea at various times, issues can be overcome if leaders are determined to move forward.

The leaders also agreed to quickly resume working-level negotiations on an Economic Partnership Agreement. Those talks have been stalled for 7 years.

Earlier in the day, Noda laid flowers to the Korean War dead at South Korea's National Cemetery in Seoul.

Wednesday, October 19, 2011 12:59 +0900 (JST)