The finance ministers of South Korea and Japan will meet in May for the first time in two and a half years after talks were suspended due to frayed diplomatic relations.

The Ministry of Strategy and Finance said Wednesday that South Korea's Deputy Prime Minister and Finance Minister Choi Kyung-hwan will meet his counterpart Taro Aso on May 23 in Tokyo.

The two deputy prime ministers will exchange views on the economic situations in the two countries and discuss ways to cooperate, according to Korea's (KBS WORLD) website.

The Korea-Japan finance ministers' meeting has been held five times since 2006 alternating between the two countries.

But it was suspended after the last meeting in South Korea in November 2012 when relations between the two countries chilled over former South Korea's President Lee Myung-bak's visit to Dokdo and Japanese Prime Minister Shinzo Abe's visit to the Yasukuni Shrine in 2013.