Gu Ja-yeol, Chairman of Muhyeop, "Warm Breeze in Korea-Japan Relations After Summit... Accelerating Economic Cooperation"

Martial Arts Fiction, Discussion on Economic Cooperation with Japan's Kansai Economic Association
Plan to Establish a Permanent Dialogue Channel for Entrepreneurs

On the 9th, Koo Ja-yeol, Chairman of the Korea International Trade Association (KITA), held a luncheon meeting with the Kansai Economic Federation in Osaka, Japan, to discuss ways to strengthen private economic cooperation between Korea and Japan.

The meeting was attended by Keiji Kakumoto, Secretary-General of the Kansai Economic Federation, Yoshiyuki Miyabe, Chairman, Yuka Fujioka, Acting Chairperson, Naoki Kaneda, President, and Shigeo Hirose, Secretary-General.

Gu Ja-yeol, Chairman of Muhyeop. / Photo by Dongju Yoon doso7@

In his greeting, Chairman Koo said, "Following two summit meetings between the two countries' leaders, a fresh breeze has blown through the previously tense Korea-Japan relations, accelerating economic cooperation between the two nations." He added, "KITA is also promoting various projects to revitalize private exchanges, such as hosting the 'Tokyo Korean Product Exhibition (22nd Tokyo K-Product Premium Consumer Goods Exhibition and Consultation)' and the 'Korea-Japan Future Industry Cooperation Forum.'"

Chairman Koo noted, "However, these private cooperation projects have mainly been centered around Tokyo, and efforts to promote cooperation at the regional level have been insufficient." He added, "I hope this meeting will serve as an opportunity to strengthen cooperation with the Kansai region, which represents Japan's second-largest economic zone."

He continued, "Our association has a special connection with the Kansai region, having established its first overseas branch in Osaka in 1948," and said, "I hope that KITA, representing the Korean and Japanese business communities, and the Kansai Economic Federation will work closely together to advance the common interests and development of both countries."

Keiji Kakumoto, Secretary-General of the Kansai Economic Federation, emphasized in his welcoming remarks, "Trade in the Kansai region accounts for about 20% of Japan's total trade, with a particularly high proportion of trade with Asia." He added, "As of 2020, Korea ranks as the fourth-largest trading partner for the Kansai region, accounting for about 5.6% of its trade, and approximately 80 Korean companies have established operations there."

He stated, "Since the Kansai region is a hub for the development and production of secondary batteries such as lithium-ion batteries, there is potential to strengthen supply chain cooperation with Korean companies." He concluded, "To foster a future-oriented relationship between the two countries, we will further activate exchanges by expanding cooperation with KITA."

Both organizations agreed to sign a Memorandum of Understanding (MOU) to expand exchange and cooperation when the Kansai Economic Federation visits Korea this August. KITA plans to actively promote establishing a permanent dialogue channel for Korean and Japanese businesspeople, expanding business exchanges, and resolving trade difficulties between the two countries.

This content was produced with the assistance of AI translation services.