Korea and Japan business groups seek deeper economic integration

Business leaders from South Korea and Japan have agreed to deepen cooperation in supply chains, energy security, and emerging industries. During the 15th Korea-Japan Chamber of Commerce and Industry leaders' meeting held in Sendai, Japan, Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry (KCCI), called for broader economic integration to address shrinking domestic markets and rising global protectionism.

Chey, who also chairs SK Group, emphasized that the two nations share similar industrial structures and technologies. He proposed building a more integrated industrial ecosystem by combining their respective strengths. Suggested areas for cooperation include artificial intelligence, advanced industries, startups, and the sharing of AI data to help establish global standards. Chey also suggested a pilot program to allow travel between the two countries without passports.

Ken Kobayashi, chairman of the Japan Chamber of Commerce and Industry, highlighted previous agreements from the Korea-Japan summit regarding critical mineral supply chains and energy security. He urged the business communities of both nations to transform these high-level agreements into concrete projects. The meeting included executives from major firms such as Hyundai Motor, Korean Air, and Suntory Holdings.