Business leaders from Japan and South Korea have expressed hope for an expansion of economic cooperation between the two countries. Since the March summit there has been growing momentum to improve bilateral ties.

An annual bilateral economic meeting that began in 1969 was held face-to-face for the first time in four years on Tuesday. The meeting's aim is to promote bilateral exchanges in the business sector.

Chairman of the Korea-Japan Economic Association, Kim Yoon, said the two counties are important partners who should work together and actively cooperate while competing with goodwill and mutual understanding.

He said he believes bilateral relations will strengthen in various fields through such means as resuming so-called shuttle diplomacy between the leaders of the two countries.

His Japanese counterpart, Sasaki Mikio, said bilateral relations, which are said to have sunk to their lowest point, are now moving toward improvement.

He said he hopes to have further debate for a bright future and development.

During the two-day meeting through Wednesday, the business leaders plan to discuss ways to enhance economic cooperation in the environment sector.