The business leaders of Korea and Japan engaged in discussions regarding the concept of economic solidarity between their two nations as a model designed to tackle shared economic challenges.
The 14th Korea-Japan Chamber of Commerce and Industry Meeting was collaboratively organized by the Korea Chamber of Commerce and Industry (KCCI) and the Japan Chamber of Commerce and Industry (JCCI) in Seogwipo on Jeju Island.
Also Read: Erick Thohir Urges Perbasi to Draft Roadmap for 2028 Olympic Bid
This year commemorates the 60th anniversary of when diplomatic relations were established between the two nations.
Chey emphasized the need for Seoul and Tokyo to transcend mere cooperation and collaboratively plan for the future, particularly through economic unity, to effectively confront these challenges.
A sum of 16 business executives from Korea participated in the leadership conference, which included prominent figures such as Chey, Chairman Yang Jae-saeng of the Busan Chamber, Chairwoman Park Yoon-kyung of the Daegu Chamber, Chairman Park Joo-bong of the Incheon Chamber, Vice Chairman Lee Hyung-hee of SK Inc., and President Park Seung-hee of Samsung Electronics. Six Japanese leaders participated in the meeting, comprising JCCI Chairman Ken Kobayashi, Chairman of Yokohama Chamber Takashi Ueno, Chairman of Kobe Chamber Hiroya Kawasaki, and Chairman of Sendai Chamber Saburosuke Fujisaki.
Also Read: Korea, Germany Sign MOU to Launch Student Exchange Program
During the meeting, both chambers concurred on a collaborative approach by adopting a joint statement.
They committed to remedying common structural obstacles through partnership in forward-looking sectors like artificial intelligence (AI), coordinating efforts to combat declining birth rates and aging populations, and enhancing cultural interchanges.
Both parties agreed that industries such as AI, semiconductors, and energy will play a crucial role in shaping the competitiveness of their respective countries. With this common perspective in mind, they have decided to collaborate in creating a secure investment climate and interconnected supply chains, all while working together to support a free and equitable global economy.
The leaders of the two countries recognized that low birthrates and aging populations are shared challenges, underscoring the necessity to enhance collaboration in addressing these issues. Building on the ongoing discussions between the respective governments, it was agreed by the leaders that the private sector will explore viable cooperation strategies through the exchange of policy insights and research findings.
Also Read: Japanese Semiconductor Industry's Profits Reflect Demand for AI
The increase in direct flights between the two countries has been observed, resulting in a growth in cross-border travel. In light of this development, the chambers have decided to enhance partnerships in different areas such as commerce, tourism, and cultural activities. In the previous year, Japan experienced an unprecedented influx of 8.82 million Korean tourists.
Conversely, 3.32 million Japanese visitors traveled to Korea during the same timeframe, solidifying it as the second most popular destination among Japanese travelers. Chairman Kobayashi of JCCI emphasized the importance of preserving current multilateral economic cooperation frameworks, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, for both economies. He highlighted that sustaining a free and open international economic order is crucial for achieving sustainable growth.