Business leaders from Japan and South Korea have met in Tokyo to strengthen business ties, agreeing to implement new initiatives to boost cross-border relations.

The Chairman of the Japan Business Federation, or Keidanren, Tokura Masakazu, said the countries will launch several joint projects including youth exchanges and measures to promote cooperation across industries. He said the two countries will not miss this crucial opportunity to expand and deepen bilateral ties.

The Chairman of the Federation of Korean Industries said that young leaders will form a bridge between the two nations in 15 to 20 years.

Japan and South Korea last year set aside funds to strengthen business ties through a series of projects. The first involves dozens of South Korean high school teachers coming to Japan to visit major businesses and schools.