In the late 1970s, The Asiatic Research Center (ARC) and The Japan Center for International Exchange (JCIE) launched the Korea-Japan Intellectual Exchange (KJIE). The KJIE aimed to promote genuine reconciliation between Japan and Korea, and emphasized cooperation between the two countries by highlighting security and economic agendas. To fully understand the significance of the KJIE, it is important to note three things: First, the ARC and the JCIE were established under the auspices of the Rockefeller Foundation and the Ford Foundation, respectively, and the KJIE also received significant financial support from these private foundations. Second, the participants of the KJIE were mostly U.S. PhDs and communicated in English papers that applied U.S. social science theories and methodologies. Third, the KJIE was modeled after the U.S.-Japan Intellectual Exchange (“Shimoda conference”). The Shimoda conference was based on the idea that the United States and Japan, who had met as enemies in World War II, would put aside their enmity for the sake of security and economic interests to create a relationship of friendship and goodwill. KJIE applied the idea of the Shimoda conference to the relationship between Korea and Japan. KJIE discussed ways to avoid industrial competition between Korea and Japan and to strengthen Japan’s role against the threat of North Korea. The KJIE was influenced by U.S. interests in strengthening Japan's role in the declining U.S. hegemony in the Asia-Pacific region. However, for this initiative to succeed, Japanese self-controls and changes were essential. Some of the Korean intellectuals who participated in the KJIE were distrustful and did not recognize Japan as a model-state to emulate. Intellectual exchange between Japan and Korea was fraught with discord. This article uses materials from the Rockefeller Archive Center to reveal these facts.