Japan, S.Korea finance ministers share concerns about weak yen, won

The finance ministers of Japan and South Korea expressed concern about the depreciation of their national currencies in a meeting on Tuesday. They said they are ready to act against excessive fluctuations in exchange rates.

Japan's Suzuki Shunichi and South Korea's Choi Sang-mok held the talks on financial issues in Seoul, South Korea's capital.

The meeting is seen as a reflection of the ongoing improvement in ties between the neighboring countries. The ministers did get together in 2023, but that was the first such discussion in seven years.

Suzuki said Japan and South Korea are holding talks at various levels. He expressed hopes that the cooperation will further deepen.

Choi said the two nations are partners in tackling common problems and need to share their experiences to develop appropriate policies.

A joint statement released after the meeting reiterated serious concerns about the rapid declines in both nation's currencies. It added that Tokyo and Seoul are ready to take steps against disorderly movements in the foreign exchange market.