South Korea and Japan: New Trade Alliances Amid Historical Tensions

South Korean President Lee Jae Myung hosts outgoing Japanese Prime Minister Shigeru Ishiba to strengthen bilateral ties and address trade relations. The visit focuses on reducing past tensions and collaborating on trade negotiations with the U.S., despite challenges over financial agreements and investments.

South Korean President Lee Jae Myung hosted outgoing Japanese Prime Minister Shigeru Ishiba on Tuesday. The visit was part of an effort to underscore both nations' resolve to thaw previous tensions and work more collaboratively on trade matters.

Ishiba, nearing the end of his term as Japan prepares to select a new leader, had a two-day itinerary in South Korea, where he engaged with Lee in Busan. National security adviser Wi Sung-lac highlighted Ishiba's significance in maintaining momentum in bilateral relations post his premiership.

Ahead of this visit, both leaders were expected to discuss their respective trade dealings with the United States. While Japan secured a framework to lower tariffs on certain goods, South Korea's negotiations remain stalled, partly due to disagreements over proposed investments that pose economic concerns.

(With inputs from agencies.)