Kim Yoon, chairman of the Samyang Group and president of the Korea-Japan Economic Association, said on the 28th, "If South Korea and Japan work together, they can create synergy," adding, "The businesspeople of both countries agreed to prioritize the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) over the Free Trade Agreement (FTA)."
During the joint press conference at the Lotte Hotel in Seoul on the same day, Kim noted, "The FTA has various issues that could complicate negotiations and prolong the process. In contrast, the CPTPP is easier to advance."
The Ministry of Trade, Industry and Energy, the Korea-Japan Economic Association, the Japan-Korea Economic Association, and the Japan-Korea Industrial Technology Cooperation Foundation held the 57th Korea-Japan Economic Meeting over a two-day schedule starting from the previous day.
At the meeting, economic representatives from both countries discussed cooperation strategies amid changing external conditions, such as U.S. trade pressures under the Trump administration and China's technological rise. After the meeting, Chairman Kim Yoon and the head of the Japanese delegation, Aso Yutaka, chairman of Aso Cement, issued a joint statement on the theme of "broader and deeper Korea-Japan cooperation."
The joint statement included building mutual trust, expanding economic ties, utilizing the CPTPP, and enhancing exchanges. Specifically, they agreed to cooperate on decarbonization and the hydrogen industry, artificial intelligence and semiconductors, biohealthcare, supply chains, future energy, and economic integration.
Kim stated, "Looking at the environment faced by Korea and Japan, the new U.S. government's trade pressures and China's technological pursuit create a critical situation," adding, "We discussed decarbonization and the hydrogen industry, artificial intelligence and semiconductors, supply chains, future energy, and economic integration. There was much talk about simplifying immigration procedures to enable seamless human exchanges."
When asked whether the joint response of corporations regarding U.S. trade pressures under the Trump administration was specifically discussed, Kim replied, "It seems that some believe it would be good to respond together. I think there will be close exchange of information within each industry," while also noting, "It wasn’t specifically addressed in this meeting."
Aso was asked whether he had a message for South Korea's new government set to launch next week. Aso replied, "There are 50 million in Korea and 120 million in Japan. The economic scale of both countries can exert considerable influence and impact," adding, "I hope Korea's new government values Korea-Japan relations and pushes for reforms. I would like to send a message to strengthen cooperation and partnership to the new government."
He pointed out the "active exchanges of the younger generation" as the developmental potential of both countries. "8 million people come from Korea to Japan, and 4 million go from Japan to Korea. These mutual exchanges can become common strengths," he noted.
Aso particularly assessed the will and language skills of young Koreans to venture abroad as strengths South Korea possesses. He stated, "Young people in Korea are more energetic than those in Japan. Their language skills are also excellent. I feel there is a certain charm, especially regarding their willingness to go abroad, as reflected in the passport issuance rate. Japan’s passport issuance rate is only 17%, while Korea exceeds 40-50%. The energy to go abroad is different."
He added, "I believe both countries need to work together on areas where growth is possible. Japan will be stimulated by Korea's energy and language abilities. Moreover, Korea can learn the teamwork Japan possesses." He also mentioned, "There may be competition between each other, but there will also be opportunities for mutual learning."
The Korea-Japan Economic Meeting began in 1969 as a platform for discussing economic cooperation following the normalization of diplomatic relations in 1965. It has been recognized for its contributions to economic cooperation between the two countries. The next 58th Korea-Japan Economic Meeting is scheduled to take place in Tokyo, Japan, next year.