This article re-examines the 1998 Kim-Obuchi Joint Declaration by integrating the strategic partnership framework with peacebuilding theory, moving beyond traditional leadership-centric narratives. It argues that although the Declaration established a rare partnership of choice, its evolution has been sectorally asymmetrical: while sociocultural and economic cooperation flourished, political and security institutionalization remained volatile and contingent on shifting political will. The study finds that the Declaration functioned as a partial conflict-mitigation mechanism, providing a normative buffer even during high-politics tensions. Following the sixtieth anniversary of diplomatic normalization, the article proposes a “Kim-Obuchi Declaration 2.0.” This renewed framework emphasizes anchoring reconciliation in universal principles and institutionalizing autonomous high-level strategic dialogue to ensure a resilient and sustainable Korea-Japan partnership.