Korea-Japan Business Conference held offline for first time in 4 years

Economy

Published: 16 May. 2023, 19:15

Korea-Japan Business Conference held offline for first time in 4 years

Participants pose for a photo during a meeting of the Korea-Japan Economic Association at the Lotte Hotel in central Seoul on Tuesday. Entrepreneurs, scholars and government officials from the two countries attended the meeting. [YONHAP]

Key business leaders from Korea and Japan came together face-to-face for the first time in four years at the Korea-Japan Business Conference held Tuesday in Seoul, exploring collaboration in advanced industries and other sectors.

The annual event had been conducted virtually during the Covid-19 pandemic. But this year, it resumed with face-to-face meetings amid thawing relations between the two countries. It came nine days after a Korea-Japan summit meeting on May 7.

Key Korean participants included Kim Yoon, president of the Korea-Japan Economic Association and chairman of Samyang Group; Sohn Kyung-shik, chairman of the Korea Enterprises Federation; and Jeong Man-ki, vice chairman of the Korea International Trade Association.

From the Japanese side, notable participants included Mikio Sasaki, chairman of the Japan-Korea Economic Association and chairman of the board of Mitsubishi Corporation; Akitaka Saiki, director of Mitsubishi Corporation and former vice minister of Foreign Affairs; and Aso Yutaka, chairman of Aso Cement.

Ahn Duk-geun, minister for trade at the Ministry of Trade, Industry and Energy, and Koichi Aiboshi, Japan’s ambassador to Korea, were also in attendance.

"The economies of our two countries are closely linked through supply chains, and we must run together toward the world complementing each other,” Chairman Kim stated in his opening speech.

“The future of Korea-Japan relations is never about winning or losing, but about cooperating in a well-intentioned competition based on mutual understanding,” Kim said. "By leveraging our respective strengths through collaboration toward achieving the top position in the global market, we can generate synergy and contribute to procuring new global market opportunities."

Chairman Sohn stressed the importance of working together in areas such as semiconductors, robotics and bio.

"To address current challenges such as the restructuring of global supply chains and competition in advanced technologies, the government and industries of both countries must join forces." Sohn said, "If we keep expanding investment and technological cooperation in advanced fields such as semiconductors, artificial intelligence, robotics, and biotechnology, it will be a great assistance in the global market."

His Japanese counterpart echoed the expectations.

"As the regional and global situations surrounding our two countries become more challenging, the need for cooperation between Korea and Japan becomes even greater," Chairman Sasaki said. "Korea and Japan share many common challenges, and there is a significant potential to establish a 'win-win relationship' by coordinating and complementing each other."

He called for the need to cement trust among business leaders.

"Although relations between the two countries have been improving, there is still concern about potential deterioration. Therefore, let us encourage broader exchanges among business leaders and strengthen the bonds of trust," he said.

The Korea-Japan Business Conference will be held for two days through Wednesday. It will adopt a joint statement reflecting the outcomes of this conference.

BY KO SUK-HYUN [seo.jieun1@joongang.co.kr]