Korea-Japan Business Circles: "60 Years of Normalized Diplomatic Relations... We Must Create a New History with Hydrogen and AI"

Hankyung Association-Kyungdanryun, 31st Korea-Japan Business Meeting

Ahead of the 60th anniversary of the normalization of diplomatic relations between Korea and Japan next year, the business communities of both countries agreed to shape future Korea-Japan relations into a forward-looking and mutually beneficial "new 60 years."

On the 18th, the Korea Economic Organization Association (KEOA) and the Japan Business Federation (Keidanren) held the 31st Korea-Japan Business Meeting at the FKI Tower in Yeouido, Seoul, adopting a joint statement pledging continuous cooperation between the two countries. This meeting was held shortly after President Yoon Suk-yeol and newly appointed Prime Minister Shigeru Ishiba held their first summit, proceeding amid expectations for improved Korea-Japan relations.

In his opening remarks, Ryu Jin, chairman of KEOA, said, "Since the shuttle diplomacy between the two heads of state was restored last year, concrete achievements such as integrated currency, swap systems, and hydrogen cooperation dialogues have followed," adding, "We must continue to unite our efforts unwaveringly for the continuation and development of cooperation."

Referring to the 60th anniversary of Korea-Japan diplomatic normalization next year, he said, "According to Confucius, sixty is an age where one is no longer shaken even by small matters," and "Korea-Japan relations have matured as much as that age." He further evaluated, "We are now prepared to run toward a future of shared prosperity," proposing that the business communities cooperate to solve issues such as low birth rates, regional extinction, and the climate crisis.

Chairman Ryu also emphasized that Korea and Japan must take a leading role in the paradigm shift of the global economy, stating, "We need to concretize cooperation in talent development, technology advancement, and standard adoption, and further strengthen cooperation frameworks such as the G7, G20, and the Organisation for Economic Co-operation and Development (OECD)."

Masakazu Tokura, chairman of Keidanren, said, "Korea-Japan relations, which had been at a standstill, have greatly improved with the inauguration of President Yoon Suk-yeol," adding, "(Today’s meeting) is a valuable opportunity to continuously promote exchanges and cooperation between the two countries and actively discuss concrete measures that allow the people of both nations to feel the results of improved relations." He also stated, "On the occasion of the 60th anniversary of diplomatic normalization next year, we must strive to build a future-oriented and irreversible Korea-Japan relationship," proposing specific cooperation plans such as joint procurement of critical materials and the establishment of hydrogen and ammonia supply chains. Furthermore, he said, "If Korea joins the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), it could send a positive message to the United States as well," expressing anticipation for Korea’s accession.

At the 31st Korea-Japan Business Conference held on the 18th at the FKI Tower Conference Center in Yeouido, Seoul, attended by Ryu Jin, Chairman of the Korea Economic Association, and Tokura Masakazu, Chairman of the Japan Business Federation, Minister of Trade, Industry and Energy Ahn Deok-geun is delivering a congratulatory speech. Photo by Choi Seoyoon

In his congratulatory remarks, Ahn Deok-geun, Minister of Trade, Industry and Energy, stated that the governments of both countries will support corporate activities to address economic security and climate change.

During the meeting sessions, topics such as Korea-Japan cooperation on hydrogen and digital transformation, trade and investment cooperation, and ideas to commemorate the 60th anniversary of diplomatic relations next year were discussed. Regarding trade and investment, a proposal was made to expand trilateral economic cooperation among Korea, the United States, and Japan using the "Korea-US-Japan Business Dialogue" platform launched in June this year. To revitalize exchanges between the two countries, measures such as the introduction of pre-entry screening systems and duty-free shopping benefits for Japanese visitors to Korea were mentioned.

KEOA and Keidanren issued a joint statement through this meeting, detailing specific cooperation plans including collaboration on clean energy such as hydrogen, establishing international standards for new industries, and cooperation in utilizing talent in advanced technology fields such as AI and quantum computing.

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