South Korean Prime Minister Kim Min-seok today said that Seoul, Japan and other Asian nations can jointly respond to the changing trade order amid unprecedented uncertainties in the global economy. Kim made the remark during a forum where he underscored the importance of cooperation between Asian countries, which account for nearly half of the world’s gross domestic product.

 

 

Kim mentioned South Korea’s free trade agreements with countries such as China, India and Vietnam, and noted that FTA negotiations are underway with other Asian nations. He said talks are underway to resume negotiations for a trilateral FTA involving South Korea, China and Japan, while Seoul reviews whether to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

The meeting came about a month after Lee’s visit to Tokyo, during which Lee suggested holding their next meeting in South Korea outside of Seoul.

 

 

In their third summit talks, Lee expressed hope that the two Asian neighbours could work together to tackle shared social challenges, such as overconcentration in the capital region, and that their leaders meet frequently to establish “shuttle diplomacy.” On the upcoming Asia-Pacific Economic Cooperation summit to be held in the southeastern city of Gyeongju on October 31 and November 1, the prime minister said South Korea plans to share its future vision for AI as it seeks to ensure cutting-edge technologies contribute to global innovation and prosperity.