Seoul: Trade Minister Yeo Han-koo called for efforts to expand bilateral ties between Seoul and Tokyo in supply chains and advanced industries Thursday while meeting with members of the Seoul Japan Club (SJC), a Seoul-based Japanese business association, and delegates from Japanese firms investing in South Korea.

According to Yonhap News Agency, Yeo stressed the need to boost bilateral cooperation between the two countries amid expanding uncertainties in the global trade environment, as stated by the Ministry of Trade, Industry and Resources. "We will continue to make efforts to support Japanese companies investing in Korea by actively reviewing the recommendations from the SJC, which are scheduled to be submitted early next year, in coordination with the relevant government ministries," he was quoted as telling the meeting in Seoul.

The trade minister pointed to the countries' similar trade environments, as well as challenges they face, which, he said, included U.S. tariff measures, massive investment plans in the United States, China's export controls and the European Union's carbon emission regulations, as reasons for the need to boost the countries' bilateral cooperation.

He underscored the need to deepen their ties in supply chains and strategic industries, such as artificial intelligence, semiconductors, biopharmaceuticals, and energy, while stressing that Japan's investment in Korea can foster bilateral collaboration.

Japan was the single largest investor nation in Korea last year, with a record high of US$6.12 billion investment here, according to the ministry.

Meanwhile, the ministry held a business event in Japan on Thursday with an aim to attract more investment to the Korean Free Economic Zone.