Business communities of South Korea and Japan held the first exchange since a summit between President Yoon Suk Yeol and Prime Minister Fumio Kishida in mid-March.

The ministry of trade said on Thursday that the Korea International Trade Association(KITA) and the Japan-Korea Economic Association co-hosted the bilateral meeting on new industries trade in Seoul on Thursday.

Yutaka Aso, the vice chairman of the group from Japan, expressed hope for constructive discussions on cooperation on the economy, personnel, and cultural exchanges amid strengthened momentum for normalized two-way ties.

Seoul’s deputy industry minister Jeong Dae-jin pledged state support for the two sides' businesses as they seek to reinforce cooperation in cutting-edge supply chains, work together in fulfilling carbon neutrality targets and jointly expand into a third market.

KITA Vice Chairman Chung Man-ki expected businesses from both sides to save trade costs following Tokyo's lifting of export curbs against South Korea.

The ministry plans to organize five additional exchange programs involving around 400 businesses from the two countries within the first half of the year.