Japan Financial Services Agency published a summary of Finance Minister Katayama’s press conference following the 10th Japan–Republic of Korea (ROK) Financial Dialogue, the first since June 2024. The dialogue covered global and regional economic conditions, financial stability and market developments, and multilateral and bilateral cooperation, with a focus on energy supply risks linked to the Middle East and broader economic security priorities. The two sides shared serious concerns about the recent rapid depreciation of the Korean won and depreciation of the yen, and affirmed the need to closely monitor energy and financial market developments and maintain a flexible policy dialogue to support growth and financial stability. On energy supply, Japan highlighted plans to release inventories as needed and coordinate with domestic ministries to avoid supply bottlenecks, while noting ROK measures affecting exports of refined products. On economic security, Japan agreed to further promote diversification of critical minerals supply chains through multilateral frameworks including the RISE Partnership presented to the World Bank, and the dialogue also recognised the threat posed by North Korea’s theft of crypto assets as a funding source for weapons of mass destruction and ballistic missiles. Cooperation is set to continue through ASEAN+3 and other multilateral forums including the G20, alongside bilateral engagement between the two countries’ financial authorities on areas such as customs cooperation and personnel exchanges.

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