South Korea and Japan will hold finance ministerial talks in late June for the first time in seven years.

Seoul's finance ministry said Friday that its deputy minister for international affairs Kim Seong-wook held talks with Japan's vice finance minister for international affairs Masato Kanda in Seoul and agreed to hold the eighth bilateral finance ministers meeting in Tokyo on June 29.

In the upcoming talks, the two sides are expected to follow up on Group of Seven and Group of 20 finance ministers meetings as well as discuss infrastructure investment in third countries and cooperation in finances, taxation and tariffs.

Talks between the finance chiefs of Seoul and Tokyo began in 2006 and continued through 2016 but were then suspended for seven years amid strained diplomatic relations.

Finance minister Choo Kyung-ho and his Japanese counterpart Shunichi Suzuki met in South Korea's Songdo last month and agreed to resume their official dialogue within the year.