Businessmen from South Korea and Japan concurred Friday on the need to enhance technological and investment cooperation and nurture an environment conducive to a bilateral free trade agreement (FTA).

Participants in a Korea-Japan business meeting in Daegu said the successful co-hosting of the 2002 World Cup was a historic turning point and called for the building of a broader, more comprehensive relationship.

They also said there was greater need for cultural cooperation and frequent youth exchanges so the neighboring countries might develop a better understanding of each other.

Business leaders from the two countries pointed out that closer cooperation will allow Korea to strengthen its corporate competitiveness and build up its long-term growth potential, while providing Japan an opportunity to overcome the sluggish growth
that has plagued the country for the past decade.