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Korean, Japanese business leaders vow 'new era of cooperation' at bilateral conference in Tokyo

Published: 17 Oct. 2025, 18:39

Ryu Jin, chairman of the Federation of Korean Industries, second from left, delivers opening remarks at the 32nd Korea-Japan Business Conference held at the Keidanren headquarters in Tokyo on Oct. 17. [FEDERATION OF KOREAN INDUSTRIES]

As Korea and Japan mark 60 years since normalizing diplomatic ties, business leaders from both countries are looking beyond the past, vowing to usher in a new era of strategic economic cooperation amid rising global uncertainty.

The Federation of Korean Industries (FKI) and Japan’s Keidanren, or Japan Business Federation, convened the 32nd Korea-Japan Business Conference at Keidanren’s headquarters in Tokyo on Friday. During the meeting, the two sides agreed to launch what they called a new phase of bilateral economic relations under the banner of “Korea-Japan Economic Cooperation 2.0.”

“We must usher in a new era of Korea-Japan economic cooperation built on the solid trust our countries have cultivated over the past 60 years,” said FKI Chairman Ryu Jin in his opening remarks. Keidanren Chairman Yoshinobu Tsutsui echoed the sentiment, emphasizing the need to deepen regional economic partnerships through frameworks such as the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Participants also addressed growing protectionist trends in the global trade environment and agreed on the need for a coordinated response. They committed to enhancing collaboration in critical sectors, including energy and supply chain resilience, and reaffirmed the importance of sustained trilateral dialogue among Korea, the United States and Japan.

Regarding a potential Korea-China-Japan FTA, both sides agreed that negotiations should advance at a higher standard than those established under the RCEP. Japanese business leaders also voiced strong support for Korea’s accession to the CPTPP, underscoring the need for shared economic alignment in the region.

In addition to trade and industry, the conference addressed ways to promote people-to-people exchanges and cultural cooperation. With travel between the two countries on the rise, participants proposed the mutual opening of automated immigration screening systems to improve convenience for travelers. They also called for student exchange programs and overseas study initiatives to be more directly linked to long-term employment opportunities, particularly for younger generations.

Ryu Jin, chairman of the Federation of Korean Industries, third from left, delivers opening remarks at the 32nd Korea-Japan Business Conference held at the Keidanren headquarters in Tokyo on Oct. 17. [FEDERATION OF KOREAN INDUSTRIES]

A joint statement adopted at the close of the meeting outlined the major priorities of the renewed cooperation agenda. These included a commitment to upholding a rules-based, free and open trade order; advancing Korea’s bid to join the CPTPP; strengthening joint responses to global trade challenges; deepening supply chain partnerships and aligning Korea-U.S.-Japan cooperation with the Free and Open Indo-Pacific strategy.

The statement also emphasized the need for greater collaboration at international forums such as the Asia-Pacific Economic Cooperation and the Organisation for Economic Cooperation and Development. Other areas of focus included hydrogen energy, carbon reduction, demographic challenges such as low birthrates and aging populations and the qualitative growth of tourism and startup ecosystems.

The Korean delegation included Ryu, Lotte Chairman Shin Dong-bin, Samyang Chairman Kim Yoon, Hyosung Group Chairman Cho Hyun-joon and LS Group Chairman Koo Ja-eun, among a total of 14.

On the Japanese side, Keidanren Chairman Tsutsui was joined by prominent executives including Etsuko Tsugihara, CEO of Sunny Side Up Group; Makoto Takashima, chairman of Sumitomo Mitsui Financial Group; Toshiaki Higashihara, chairman of Hitachi; and Masumi Kakinoki, chairman of Marubeni.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KIM KI-HWAN [[email protected]]