Korea-Japan Business Meeting Held in Tokyo, Japan... Likely to Discuss Joint Projects

The Korea-Japan Business Council meeting will be held in Tokyo, Japan, for the first time in a year and a half.

The 29th Korea-Japan Business Conference held in July 2022 at the Federation of Korean Industries building in Yeouido, Seoul / Photo by Jinhyung Kang aymsdream@

According to the business community on the 5th, the Korea Economic Association (HanKyungHyup) and Japan's Keidanren will hold the 30th Korea-Japan Business Council meeting in Tokyo on the 10th and 11th. Some members of the HanKyungHyup executive team, including Chairman Ryu Jin, who took office last August, and Executive Vice Chairman Kim Chang-beom, will attend.

The previous Korea-Japan Business Council meeting was held in Seoul in July 2022. This meeting will be the first in a year and a half. It will be the first time in 4 years and 2 months that the meeting is held in Japan since November 2019.

HanKyungHyup and Keidanren are expected to exchange views on Korea-Japan economic trends and prospects at this meeting and focus on discussing joint business projects through fund management. There is also a possibility that specific directions for Korea-Japan private joint projects will be presented. Additionally, attention is focused on whether the two organizations will adopt a joint statement at this meeting and whether senior executives from the four major groups, including Samsung, who withdrew amid the 2016 Park Geun-hye administration's political scandal during the Federation of Korean Industries (FKI) era, will attend. A HanKyungHyup official told Asia Economy in a phone interview, "We are currently coordinating schedules with group officials, and attendance will be decided next week."

The two organizations established this meeting in 1982 to promote mutual understanding and friendship between the business communities of the two countries. Since 1983, the meeting has been held regularly, but it was not held for two years from 2020 due to the spread of COVID-19 and resumed in 2022. In March last year, the two organizations announced the establishment of a Future Partnership Fund, each contributing 1 billion won and 100 million yen (approximately 1 billion won) respectively, to jointly manage the fund. They also agreed to request participation from major companies in both countries if joint projects expand.

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