S. Korean, Japanese Businessmen Urge Governments To Improve Relations Amid Tokyo-Seoul Row

S. Korean, Japanese Businessmen Urge Governments to Improve Relations Amid Tokyo-Seoul Row

About 300 businessmen attending the 51st annual conference of the Korea-Japan Economic Association called in a statement issued on Wednesday on the two nations' governments to put efforts into normalizing their tense relationshi

MOSCOW (Pakistan Point News / Sputnik - 25th September, 2019) About 300 businessmen attending the 51st annual conference of the Korea-Japan Economic Association called in a statement issued on Wednesday on the two nations' governments to put efforts into normalizing their tense relationship.

"We have shared consensus that the political and diplomatic ties should normalize to develop reciprocal economic relations between South Korea and Japan. We strongly urge the two nations' governments to normalize relations via dialogue and open a new chapter in the relations," the statement says, as quoted by South Korea's Yonhap news agency.

The political and diplomatic relations between South Korea and Japan are fraught with difficulties, with no solution in sight, the statement added.

The businessmen also mentioned Brexit, the US-China trade war and tensions in the middle East among the largest external threats to South Korea and Japan.

Relations between Japan and South Korea took a turn for the worse last year after the latter's top court ruled that a number of Japanese companies could be sued for their use of forced labor during World War II. Japan has protested the decision, claiming that the 1965 agreement between the two countries had resolved the issue of damages once and for all.

On August 2, Tokyo made the decision to stop treating Seoul as a trusted trade partner, adding stricter customs procedures for a total of 1,194 items exported to South Korea.

Later that month, the South Korean government announced the termination of the General Security of Military Information Agreement, which allowed both countries to exchange military information.