The Tenth Japan-Korea Finance Ministerial Dialogue (March 14, 2026)

On March 14, 2026, in Tokyo, Japan, the Ministry of Finance of Japan and the Ministry of Finance and Economy of Korea held the Tenth Japan–Korea Finance Ministerial Dialogue. This dialogue was attended by Ms. KATAYAMA Satsuki, Japan’s Minister of Finance, and Mr. KOO Yun-cheol, Korea’s Deputy Prime Minister and Minister of Finance and Economy. The outcomes of the discussion are summarized in the “Joint Press Release .”

I. Introduction
1. Ms. KATAYAMA Satsuki, Japan’s Minister of Finance, and Mr. KOO Yun-cheol, Korea’s Deputy Prime Minister and Minister of Finance and Economy, met for the 10th Japan-Korea Finance Ministerial Dialogue on March 14, 2026, in Tokyo, Japan. The Ministers exchanged their views on wide-ranging issues including the current global and regional economy, economic security and the ways to strengthen bilateral and multilateral cooperation.

II. Global and Regional Economies, and Policies
2. The Ministers shared the view that, while the global economy maintains steady growth, it nevertheless remains exposed to various risks, including geopolitical tensions. In particular, the Ministers held a serious discussion on the situation in the Middle East and recent fluctuations in financial markets and reaffirmed the importance of close cooperation to ensure a stable supply of energy. The Ministers also exchanged views on the potential for investment promotion, including in areas such as artificial intelligence to enhance economic growth.
3. They reaffirmed the importance of remaining vigilant and staying agile in policy actions to support economic growth and maintain financial stability. In addition, the Ministers expressed serious concern over the recent sharp depreciation of the Korean won and the Japanese yen. Furthermore, they reaffirmed that they will closely monitor foreign exchange markets and continue to take appropriate actions against excessive volatility and disorderly movements in exchange rates.

III. Economic Security
4. The Ministers shared the view that strengthening global supply chains is a priority for economic security. In particular, with regard to critical minerals, the Ministers recalled their discussions, including at the Critical Minerals Finance Ministerial Meeting in January, and agreed to further promote the diversification of critical mineral supply chains in developing countries through multilateral initiatives such as the RISE Partnership. The Ministers also agreed to continue close cooperation on supply chain policy.
5. The Ministers reaffirmed that the cooperation under the MOU between JBIC and KEXIM, aimed at strengthening supply chain resilience, is also important from the perspective of economic security.
6. The Ministers shared the view that the Democratic People's Republic of Korea (DPRK)’s proliferation financing, including through cryptocurrency theft and activities by IT workers, which could support its weapons of mass destruction and ballistic missile programmes, poses a serious threat to international security.

IV. Multilateral and Bilateral Cooperation
7. The Ministers expressed support for efforts to enhance the effectiveness of the Chiang Mai Initiative Multilateralisation (CMIM) and to further strengthen the capacity of the ASEAN+3 Macroeconomic Research Office (AMRO) in surveillance and technical assistance to further reinforce the regional financial safety net. The Ministers also expressed their support for discussions toward the formulation of the next Asian Bond Market Initiative (ABMI) Roadmap. The Ministers further welcomed the progress toward developing the next Disaster Risk Financing (DRF) Initiative Roadmap including strengthening the institutional arrangements. The Ministers further confirmed their cooperation to advance regional payment integration while addressing the associated risks.
8. The Ministers welcomed that Korea was invited to the G7 Finance Ministers and Central Bank Governors’ Meeting for the third consecutive year, building on the momentum started by Japan’s invitation in 2023. The Ministers agreed to actively cooperate on various issues discussed at multilateral fora, including the G20 and G7, to jointly address global challenges.
9. The Ministers welcomed the continued convening of the Japan-Korea Customs Cooperation Conference and confirmed that they would further promote cooperation between customs authorities, including through enhanced information exchange, in particular for economic security and e-commerce response.
10. The Ministers recognized the importance of promoting increased investment. In this context, the Ministers welcomed the planned inclusion of Korean government bonds in the World Government Bond Index (WGBI) as well as the Korean government’s efforts to engage with international investors. The Ministers also highly commended the Korean government’s efforts to improve the fundamentals of Korea’s foreign exchange and capital markets and to create an advanced investment environment, which will facilitate investment from Japanese institutional investors. These efforts include introducing 24-hour trading in the Korean foreign exchange market, establishing an offshore won settlement system, and permitting omnibus securities settlement accounts.
11. The Ministers also welcomed the steady implementation of the regular vice-ministerial meetings and the continuation of the staff-visit program. The Ministers also welcomed the continued research cooperation between the Policy Research Institute (PRI) of the Ministry of Finance, Japan and the Korea Institute of Public Finance (KIPF).
12. The Ministers reaffirmed the importance of the regional financial safety net and bilateral financial cooperation including the Bilateral Swap Arrangement, and agreed to continue discussing possible further improvements in this cooperation.

V. Conclusion
13. The Ministers shared the view that the Japan–Korea Finance Ministerial Dialogue, launched in 2006, remains a valuable forum for exchanging experiences and enhancing mutual understanding, and reaffirmed the importance of strengthening communication at various levels.
14. The Ministers agreed to hold the Eleventh Dialogue in Korea within about one year.