Yoon and Kishida "Continue Cooperation on Energy and Economic Security"... Close Communication on Line Incident (Comprehensive)

About 50-Minute Bilateral Meeting at Yongsan Presidential Office
South Korea-Japan Hydrogen Cooperation and Resource Cooperation Dialogue to Launch Next Month

Japanese Prime Minister Fumio Kishida is visiting South Korea on the 26th to attend the Korea-China-Japan Summit at Seoul Airport in Seongnam, Gyeonggi Province. Photo by Jinhyung Kang aymsdream@

President Yoon Suk-yeol and Japanese Prime Minister Kishida Fumio, who visited Korea to attend the Korea-Japan-China summit, stated on the 26th that "we have agreed to continue cooperating to achieve tangible results in areas such as energy, economic security, small and medium-sized enterprises and startups, ICT, and advanced technology." In particular, they agreed to prepare various projects under diplomatic communication to elevate bilateral relations to a higher level in commemoration of the 60th anniversary of the normalization of diplomatic relations next year.

Regarding the 'Line Yahoo incident' triggered by administrative guidance from the Japanese government, President Yoon said, "I understand that it is not a demand to sell shares to the domestic company Naver," and Prime Minister Kishida responded, "We will maintain close communication between the two countries."

President Yoon and Prime Minister Kishida held a bilateral meeting for about 50 minutes from 4:35 pm to 5:25 pm at the Yongsan Presidential Office on the same day, stating, "As tangible results that the people of both countries can feel are emerging due to the improvement of Korea-Japan relations, let us continue to work together to further expand cooperation in various fields."

Kim Tae-hyo, the First Deputy Director of the National Security Office, briefed reporters on the outcomes of the bilateral meeting, saying, "The two leaders agreed that this Korea-Japan-China summit is not only an opportunity to reestablish bilateral cooperation but also to actively engage China and explore new cooperation methods among the three countries in the regional order, so that the three countries can join forces to promote peace and prosperity in the Indo-Pacific region."

"Strengthening Cooperation in Supply Chain Sector... Expanding Youth Exchanges"

The two leaders first evaluated that economic cooperation is becoming more active thanks to the improvement of Korea-Japan relations, welcomed the decision to hold dialogues between relevant ministries of the two countries on hydrogen, ammonia, and resources, and agreed to strengthen cooperation in the supply chain sector.

In particular, the Korea-Japan Hydrogen Cooperation Dialogue will be newly established and launched in mid-next month. Deputy Director Kim explained, "We can expect an expansion of the global hydrogen supply chain between Korea and Japan, and we agreed to cooperate on standards related to hydrogen, specifications related to hydrogen energy, and policy areas."

The Korea-Japan Resource Cooperation Dialogue will also be newly created and is scheduled to launch in mid-next month. Deputy Director Kim said, "It was decided to establish this between Korea’s Ministry of Trade, Industry and Energy and Japan’s Ministry of Economy, Trade and Industry," adding, "We will seek cooperation to address the critical mineral supply chain crisis and aim to stabilize the supply chain."

President Yoon Suk-yeol is speaking at the South Korea-Japan summit held on the 26th at the Yongsan Presidential Office in Seoul with Japanese Prime Minister Fumio Kishida. [Image source=Yonhap News]

To develop a future-oriented bilateral relationship, they also agreed to explore ways to expand youth exchanges such as studying abroad, internships, and employment. President Yoon evaluated the recent additional contributions by Japanese companies to the ‘Japan-Korea Future Partnership Fund.’ The Korea-Japan Future Partnership Foundation was launched in Korea in June last year, and the Japan-Korea Future Partnership Foundation was launched on the Japanese side.

Deputy Director Kim said, "Korea contributed 1 billion won, and Japan contributed 100 million yen, but this week Japan proactively raised an additional 200 million yen first," adding, "In line with this, the Korea Economic Association also plans to increase funds for the partnership foundation to enable more active exchanges among the future generations of youth in both countries."

The two leaders evaluated the mutual assistance provided last year for the urgent return of nationals residing in Sudan and Israel and agreed to continue communication to expand cooperation in protecting overseas nationals.

President Yoon Suk-yeol shakes hands with Japanese Prime Minister Fumio Kishida at the Korea-Japan summit held on the 26th at the Yongsan Presidential Office in Seoul. [Image source=Yonhap News]

Yoon: "Understood It Is Not a Demand to Sell Naver Shares"

Regarding the Line Yahoo incident, which has become a matter of public interest, President Yoon raised the issue first during the bilateral meeting. He stated, "I understand that the administrative guidance from Japan’s Ministry of Internal Affairs and Communications is not a demand to sell shares to the domestic company Naver," and "I perceive this as a matter separate from Korea-Japan diplomatic relations." A senior official from the presidential office said, "It is necessary to manage this well so that it does not become an unnecessary issue between the two countries in the future."

In response, Prime Minister Kishida explained, "The administrative guidance is understood under the principle that there is no change in the existing stance to continue promoting investment in Japan by foreign companies, including Korean companies," and "This administrative guidance from Japan’s Ministry of Internal Affairs and Communications is a request to review security governance regarding a serious security breach that has already occurred." He added, "The Korean and Japanese governments have cooperated and communicated well from the early stages of this issue, and we will continue to maintain close communication going forward."

Furthermore, the Korean government expressed its intention to firmly maintain security readiness during the Korea-Japan-China summit period and immediately after the meeting. A senior official from the presidential office said, "North Korea’s military reconnaissance satellite launch using intercontinental ballistic missile (ICBM) technology is imminent, and there is a possibility of other missile provocations mixed in," emphasizing, "The government will firmly maintain security readiness during and immediately after the Korea-Japan-China summit."

Prime Minister Kishida’s visit to Korea is the first in one year since the Korea-Japan summit held in Seoul in May last year. President Yoon and Prime Minister Kishida met face-to-face again after about six months since their meeting in San Francisco, USA, on November 16 last year during the Asia-Pacific Economic Cooperation (APEC) summit.