Yeo Hangoo: "Korea and Japan, as Middle Powers with Similar Positions, Must Strengthen Cooperation in Supply Chains, Energy, and AI"

Keynote Speech at the "Korea-Japan New Economic Cooperation Seminar in an Era of Complex Crises"

Emphasis on Joint Response Amid Middle East Risks and U.S.-China Competition

Seminar and Investment Promotion in Japan... Expanding Semiconducto

Yeo Hangoo, Head of the Trade Negotiations Division, attends the '53rd Trade Promotion Committee' held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul on the 8th and delivers an opening remark. 2026.01.08 Photo by Dongju Yoon

Yeo Hangoo, Head of the Trade Negotiations Division at the Ministry of Trade, Industry and Energy, emphasized the need for South Korea and Japan, as like-minded middle powers, to strengthen cooperation in key areas such as supply chains, energy and resources, artificial intelligence (AI), and trade agreements.

In his keynote speech at the "Korea-Japan New Economic Cooperation Seminar in the Era of Polycrisis" held in Tokyo, Japan on the 22nd, Yeo stated, "Recently, both Korea and Japan are facing shared challenges such as the situation in the Middle East, strategic competition between the United States and China, and demographic issues like low birth rates and aging populations."

The seminar was organized to explore new directions for Korea-Japan economic cooperation amid rapidly changing international dynamics. More than 100 experts from both countries attended, including Jung Chul, President of the Korea Economic Research Institute, and Masakazu Kubota, Vice Chairman of Keidanren and Director General of the Comprehensive Policy Research Institute.

Yeo assessed that, in the current phase of global supply chain restructuring, Korea-Japan cooperation has become a necessity rather than an option. He pointed out that, especially with the recent expansion of energy and resource supply uncertainties due to geopolitical risks from the Middle East, the intensification of U.S. trade regulations, and the escalating technological rivalry between the United States and China, there are limits to what individual countries can do on their own. Given the similar industrial structures and high external dependence of both Korea and Japan, he judged that establishing a "joint response system" is essential to absorb global shocks.

Yeo's on-site activities also aligned with this direction. He held meetings with Korean companies operating in Japan, such as LG Electronics, SK, S-Oil, and POSCO, to discuss securing resources, stabilizing supply chains, and ways to cooperate on core materials, parts, and equipment. He also met with startups that have entered the Japanese market to review possibilities for expanding cooperation in digital and consumer goods sectors.

There were also achievements in attracting investment. The government secured investment worth approximately 120 billion won from Techsend Photomask, a Japanese photomask company, and confirmed plans to establish a new production plant for advanced process products of 14 nm and below.

In a roundtable with major Japanese companies such as JSR, AGC, TEL, and Alps Alpine, the government conveyed its intention to expand investment incentives and improve regulations, and requested further investment expansion.

There is also an interpretation from within and outside the government that this visit to Japan signals a shift in Korea-Japan economic cooperation toward a "joint survival strategy" stage. In a situation where global supply chains are becoming increasingly fragmented, closer cooperation between the two countries could not only strengthen their ability to respond to external risks but also boost competitiveness in advanced industries.

The Ministry of Trade, Industry and Energy plans to further concretize Korea-Japan economic security cooperation through joint responses on energy and resources, linking investment in advanced industries, and expanding trade cooperation channels.

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