Korean, Japanese biz chambers agree to strengthen energy, supply chain ties

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Korean, Japanese biz chambers agree to strengthen energy, supply chain ties

Published: 25 Nov. 2024, 18:47

Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won speaks at the 13th meeting of the business chamber leadership of Korea and Japan in Osaka, Japan, on Monday. [KCCI]

Korea Chamber of Commerce and Industry (KCCI) on Monday, held a meeting with its Japanese counterpart and agreed to strengthen ties in the areas of energy, supply chain and advanced technology.

The 13th meeting between the KCCI and the Japan Chamber of Commerce and Industry (JCCI) took place in Osaka, Japan. Their previous meeting took place in Busan in June 2023.

The Korean side was led by KCCI Chairman Chey Tae-won and HS Hyosung Vice Chairman Cho Hyun-sang among others, while the Japanese side was led by JCCI Chair Ken Kobayashi and Shingo Torii, representative director and vice chairman of the board of Suntory Holdings.

In his opening remarks, Chey emphasized the growing importance of Korea-Japan relations and their strengthened economic partnership, urging continued support to maintain the momentum of cooperation between the two chambers.

He added, “The business chambers from both countries should take the lead, alongside key economic organizations, in organizing forums where economic leaders from Korea and Japan can gather.”

Discussions focused on identifying promising areas for private sector-led economic cooperation, including energy, supply chain and advanced technology, as well as exploring cooperation models between local chambers.

At the meeting, Cho highlighted the growing importance of cooperation due to external geopolitical uncertainty and growth limits in their domestic economies. He also stressed the importance of joint investment in overseas hydrogen production facilities for the establishment of a global hydrogen supply chain, according to the KCCI.

Yonhap