During the 10th Korea-Japan Finance Ministers' Meeting held on the 14th, the finance ministers from both countries expressed grave concerns regarding the steep decline in the value of the Korean won and the Japanese yen. They agreed to enhance bilateral and multilateral cooperation, including currency swaps, as part of their strategy to monitor foreign exchange markets closely. This meeting was significant as it was the first since new governments have taken office in both countries, and it highlighted the urgency felt due to the volatile currency climate worsened by international conflicts such as the recent US-Iran tensions which drove oil prices up and affected currency values.

The finance ministers confirmed that proactive measures should be taken to address excessive fluctuations and disorderly movements in the exchange rates. They also discussed the implications of geopolitical issues, particularly in the Middle East, on the stability of energy supplies and agreed on the necessity for close cooperation to ensure steady energy sourcing. Furthermore, they are exploring diversification in critical mineral supply chains as part of their economic security discussions, as well as continuing cooperation on supply chain policies.

The ministers recognized the importance of regional financial safety nets such as the Chiang Mai Initiative Multilateralization (CMIM), which serves to strengthen the financial stability of the ASEAN+3 region. They emphasized the importance of bilateral financial cooperation, including currency swaps, and decided to hold further discussions regarding additional improvements in the future. Plans for regular meetings at the deputy ministerial level and staff exchange programs were also agreed upon, marking a commitment to enhancing cooperation as the ministers celebrated the 20th anniversary of the meeting series which began in 2006.