Korea-Japan-China Business Leaders Gather... "Creating a Private Cooperation Platform to Study Solutions for Economic Issues"

8th Korea-Japan-China Business Summit at Sangui Hall
Proposal by Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry
"Seeking urgent solutions to economic issues"
Joint statement also announced... Agreement to cooperate for economic revitalization

Business leaders from South Korea, Japan, and China gathered in one place and agreed to work together to revitalize economic cooperation among the three countries.

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, is delivering the opening address at the 8th Korea-Japan-China Business Summit held at the Chamber of Commerce building on the 27th. Photo by Korea Chamber of Commerce and Industry

On the 27th, the Korea Chamber of Commerce and Industry (KCCI) jointly held the "8th Korea-Japan-China Business Summit" with the Japan Business Federation (Keidanren) and the China Council for the Promotion of International Trade (CCPIT) at the Chamber of Commerce and Industry building. This summit was held in conjunction with the "9th Korea-Japan-China Summit." About 280 participants, including business leaders representing each country and government officials from each nation, attended the summit.

From South Korea, heads of economic organizations such as Choi Tae-won, Chairman of KCCI, Ryu Jin, Chairman of the Korea Economic Association, Yoon Jin-sik, Chairman of the Korea International Trade Association, Kim Ki-moon, Chairman of the Korea Federation of SMEs, Sohn Kyung-shik, Chairman of the Korea Employers Federation, Choi Jin-sik, Chairman of the Korea Association of Medium Enterprises, and Kim Yoon, Chairman of the Korea-Japan Economic Association, were present. Business leaders including Cho Hyun-sang, Vice Chairman of Hyosung Group, Lee Hee-beom, Chairman of Booyoung Group, Myung Noh-hyun, Vice Chairman of LS Group, as well as about 90 government officials including Ahn Deok-geun, Minister of Trade, Industry and Energy, and Cho Tae-yeol, Minister of Foreign Affairs, also attended.

From Japan, about 90 business leaders and government officials attended, including Tokura Masakazu, Chairman of Keidanren, Sato Yasuhiro, Senior Advisor of Mizuho Financial Group, Higashihara Toshiaki, Chairman of Hitachi Ltd., and Kubota Masakazu, Vice Chairman of Keidanren. From China, about 100 business leaders and government officials attended, including Ren Hongbin, Chairman of CCPIT, Zhao Dong, General Manager of China Petrochemical Group, Lin Shunjie, Vice President of China International Exhibition Center Group, Li Dongsheng, Vice President of TCL Technology Group, and Chen Jianhua, Vice President and President of Hengli Group.

On the 27th, at the Korea Chamber of Commerce and Industry building, Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry (center), Tokura Masakazu, Chairman of Keidanren (left), and Ren Hongbin, Chairman of CCPIT (right), are posing for a commemorative photo after signing a joint statement at the Korea-Japan-China Business Summit. Photo by Korea Chamber of Commerce and Industry

On the 27th, Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry (left), Tokura Masakazu, Chairman of Keidanren (center), and Ren Hongbin, Chairman of CCPIT (right), are entering the conference room to attend the '8th Korea-China-Japan Business Summit' held at the Korea Chamber of Commerce and Industry building. Photo by Korea Chamber of Commerce and Industry

In his opening remarks, Chairman Choi Tae-won said, "Since our last meeting in Chengdu, China in 2019, it has been a long time, so I hope that today’s meeting will allow business leaders from the three countries to put their heads and hearts together and make substantial progress through meaningful discussions." He emphasized, "Our three countries share a long history and culture and are neighboring countries with high geopolitical and economic interconnections. By working together, we can overcome the turbulent waves of the international order and wisely respond to common challenges."

He continued, "I propose the establishment of a 'private-sector trilateral cooperation platform.' It is true that economic cooperation has been difficult to advance practically due to gaps caused by the COVID-19 pandemic and other factors. Going forward, based on a platform that studies cooperation, we can seek solutions to urgent economic issues and also consider follow-up measures on agreements discussed at the trilateral summit."

Tokura Masakazu, Chairman of Keidanren, who gave the opening remarks for Japan, said, "It is important for the three countries to strengthen the foundation of their economies and deepen cooperation," adding, "I look forward to active discussions on challenges such as responses in the green sector and expanding human exchanges." Ren Hongbin, Chairman of CCPIT, who gave the opening remarks for China, responded, "For years, the three countries have been each other’s largest trading partners and inseparable neighbors and partners," and said, "I hope the business communities will be builders and beneficiaries of trilateral cooperation and achieve results in industrial cooperation."

Meanwhile, the three economic organizations that hosted the event announced the "8th Korea-Japan-China Business Summit Joint Statement" to support the implementation of the "9th Korea-Japan-China Summit" and to execute the topics discussed in the business summit presentations.

The joint statement includes commitments from the business sectors of the three countries to cooperate in digital transformation, trade revitalization, and supply chain stabilization to stimulate the economy, and to actively collaborate on green transition, aging population response, and healthcare for sustainable development. It also includes plans to establish a "working-level consultative body" to solidify the Korea-Japan-China Business Summit as a private-sector economic cooperation forum among the three countries.

Park Il-jun, Executive Vice President of the Korea Chamber of Commerce and Industry, said, "Once the working-level consultative body among the three economic organizations is formed, the business forum can be upgraded to an economic cooperation platform, allowing for more practical discussions on economic cooperation measures in the future."

The 9th Korea-Japan-China Business Summit is scheduled to be held in Japan.

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