Japan, South Korea partnership funds to go to chips, energy

TOKYO (AP) — Top business leaders from Japan and South Korea will use a fund meant to underscore the two countries’ burgeoning ties to strengthen their cooperation in energy, industry and other sectors. Japan Business Federation, known as Keidanren, and its South Korean counterpart, the Federation of Korean Industry, announced a fund of 200 million yen, or $1.5 million, in March. The two groups selected specific areas of joint projects Wednesday for the Future Partnership funds, focusing on youth exchanges and industrial cooperation. They’ll form committees and panels to apply the money toward semiconductor supply chain resiliency, energy security, maintaining the free and open international order, and climate change, among others.