Japanese and South Korean financial officials will discuss later this month resuming a currency swap deal.

The talks will restart on June 29 after a seven-year hiatus. The officials are expected to discuss issues affecting the global and regional economies. How to shape bilateral financial cooperation is also on the agenda, including resuming the two country's currency swap agreement.

A currency swap deal allows countries to exchange foreign currencies in an emergency resulting from confusion in financial markets or other causes.

The accord expired in 2015. South Korea proposed reviving it in the last such dialogue, held in August the following year. But discussions on the matter saw no progress as the countries suspended the dialogue.

Resumption of the deal would symbolize improvement of bilateral relations in the financial field.