Yoon: Seoul-Tokyo ties key to address N Korea, supply chains

By AP News


South Korean President Yoon Suk Yeol called for Japan to join his efforts to improve bilateral relations strained by historical grievances as he prepares to travel to Tokyo for a highly anticipated summit with Japanese Prime Minister Fumio Kishida

South Korea Japan Yoon

SEOUL, South Korea (AP) — South Korea’s president wants Japan to join his efforts to improve ties frayed over Tokyo’s past colonial rule, saying there is an increasing need for greater bilateral cooperation because of North Korean nuclear threats and global supply chain challenges.

“We cannot afford to waste time while leaving strained Korea-Japan relations unattended,” President Yoon Suk Yeol said in written response to questions posed by several foreign media outlets including The Associated Press. “I believe we must end the vicious cycle of mutual hostility and work together to seek our two countries’ common interests.”

Yoon’s comments were provided Wednesday, a day before he travels to Tokyo for a closely watched summit with Japanese Prime Minister Fumio Kishida. The focus of attention is whether and what corresponding steps Kishida would take in response to Yoon’s recent plans to use South Korean funds to compensate some of the colonial-era Korean forced laborers without requiring Japanese contributions.

Yoon’s push has triggered withering criticism from his domestic political rivals, who accuse him of making what they call “a humiliating diplomatic surrender” to Japan. But Yoon has defended his decision, saying greater ties with Japan is essential to tackle a slew of foreign policy and economic challenges.

“There is an increasing need for Korea and Japan to cooperate in this time of a poly-crisis with North Korean nuclear and missile threats escalating and global supply chains being disrupted,” Yoon said. “I am confident that the Japanese government will join us in opening a new chapter of Korea-Japan relations which will go down to history.”

South Korea and Japan, both key U.S. allies and vibrant democracies, are closely linked to each other economically and culturally. But their ties plunged to one of their lowest points in decades after South Korea’s Supreme Court in 2018 ordered two Japanese companies to compensate some of their former Korean employees for forced labor during the 1910-45 colonial rule.

Japan has insisted all compensation issues were already settled by a 1965 treaty that normalized bilateral ties and was accompanied by $800 million in economic aid and loan from Tokyo to Seoul. The history disputes spilled over to other issues, with Tokyo placing export controls and South Korea threatening to terminate a military intelligence-sharing pact.

The feuding undermined a U.S. push to reinforce its alliances in Asia to better cope with North Korean nuclear threats and a Chinese rise.

Since taking office last May, Yoon, a conservative, has been focusing on repairing ties with Japan, boosting the military alliance with the United States and building a stronger trilateral Seoul-Washington-Tokyo security cooperation. Yoon says those steps were needed to deter North Korea, whose nuclear-capable missiles put both South Korea and Japan within striking distance.

Tensions with North Korea have further intensified recently, with the North test-firing a spate of missiles in protest of the South Korean-U.S. military drills that it views as an invasion rehearsal.

“As North Korea’s nuclear development seriously threatens peace and security on the Korean Peninsula and beyond, it is more important than ever that the international community works on a concerted deterrence and responses – this includes the ROK-U.S. alliance and ROK-U.S.-Japan security cooperation,” Yoon said, invoking South Korea’s formal name.

After Yoon’s government announced it would use money raised domestically to compensate the former forced laborers who won damages in the 2018 rulings, U.S. President Joe Biden hailed the plan as a major step toward enhancing the partnership between two of Washington’s closest allies.

While experts say that North Korea’s aggressive weapons testing activities are aimed forcing the United States to accept it as a nuclear power and relaxing international sanctions, Yoon said Kim would fail to achieve this goal.

“Since the complete denuclearization of North Korea is the clear and unchanging goal of the international community, the Republic of Korea will never acknowledge North Korea as a nuclear state under any circumstances,” Yoon said.

He said Seoul, Washington and Tokyo are “continuously taking strong diplomatic, economic and military measures to show that the international community’s commitment to denuclearizing North Korea is stronger than North Korea’s commitment to the development of nuclear weapons.”

Yoon also called on North Korea to halt its “reckless” nuclear program and take steps to address the suffering of its people. He said South Korea is willing to provide humanitarian assistance to North Korean people, citing an assessment “that food shortages there have grown worse with some regions seeing people dying of hunger recently.”

Yoon expressed optimism that the thawing of diplomatic relations between South Korea and Japan would also expand economic cooperation between the technology-driven countries, which he said would be crucial to address industrial supply chain vulnerabilities and other global challenges.

“If Korea-Japan relations are normalized, I expect to see acceleration of strategic cooperation, such as technological partnerships, joint research & development and the expansion of mutual investments in various fields, such as semiconductors, space and bio-health including materials, parts and equipment," he said.

Yoon said expanded cooperation between South Korea and Japan – both semiconductor powerhouses – will contribute “greatly” in improving the resilience in global supply chains, which have been rattled by Russia’s invasion of Ukraine and COVID-19 and could be reshaped by an intensifying U.S.-China rivalry.

Yoon also said South Korea and Japan while pursuing stronger bilateral ties should also seek to advance their economic relations with China in a “stable manner.”

South Korea has struggled to strike a balance between its ally United States and China, its biggest trade partner, amid an intensifying Washington-Beijing confrontation over regional influence and technology.

“While maintaining communication, Korea, Japan and China will work together in areas of common interest in the economic field, including supply chain stabilization, and on our responses to health and climate crises,” he said.


Find more AP Asia-Pacific coverage at https://apnews.com/hub/asia-pacific


Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

Sign up for Investing Intel Newsletter