Finance ministers of South Korea and Japan will hold a meeting next week to discuss economic cooperation between the two nations, Seoul's officials said Friday.

The meeting between South Korea's Finance Minister Bahk Jae-wan and his Japanese counterpart, Yoshihiko Noda, will be held on July 1 in Tokyo, according to the finance ministry here.

During the gathering, which will also be attended by finance ministry staff from the two nations, they will exchange views on world and regional economic outlooks and cooperation between their countries, the ministry said.

Macroeconomics, budgets, fiscal policies, taxation, customs and international finance are among the major issues to be discussed during the one-day gathering, the ministry said.

The meeting was initially scheduled to be held in Korea, but Seoul officials proposed holding it in Japan, given the "unusual situation" following the March 11 earthquake that struck Japan, which might make it difficult for Japanese policymakers to travel overseas, according to the ministry.

This marks the first overseas visit by Finance Minister Bahk since he took office on June 2.

Source: Yonhap News (June 24, 2011)