Business leaders from South Korea and Japan gathered in Tokyo on Wednesday to discuss ways to strengthen economic cooperation, on the same day the leaders of both countries held a summit in Andong, South Korea.
The Korea-Japan Economic Association and the Japan-Korea Economic Association co-hosted the 58th Korea-Japan Economic Conference at The Okura Tokyo hotel.
The Korea-Japan Economic Conference is a leading private-sector economic consultative body representing both countries. The two sides agreed to hold the meeting annually starting in 1969, following the establishment of diplomatic relations in 1965.
Since the inaugural meeting in 1969, the conference has been held alternately in both countries every year without a single interruption, even during periods of political tension or crises such as the COVID-19 pandemic.
This year's event runs for three days through Friday under the theme "Korea and Japan Moving Forward, the Next Step."
About 130 participants attended from the Korean side, led by Koo Ja-yeoul, chairman of the Korea-Japan Economic Association and chairman of the board of LS Corp. (006260.KS). Other Korean attendees included Choi Young-bae, minister for economic affairs at the Korean Embassy in Japan; Kim Chang-beom, vice chairman of the Federation of Korean Industries; Lotte Group Chairman Shin Dong-bin; Doosan Group (000150.KS) Chairman Park Jeong-won; LS Group Chairman Koo Ja-eun; OK Financial Group Chairman Choi Yoon; LS Electric Chairman Koo Ja-kyun; Kwon Dae-yeol, head of sustainability management at Kakao (035720.KS); and Kim Dong-wook, vice president of Hyundai Motor.
From the Japanese side, about 100 participants attended, including Koji Akiyoshi, chairman of the Japan-Korea Economic Association and chairman of Asahi Group Holdings; Ryota Takeda, chairman of the Japan-Korea Parliamentarians' Union; Masakazu Tokura, honorary chairman of Keidanren; and Yutaka Aso, chairman of Aso Cement.
"It is even more meaningful that today, while shuttle diplomacy between the leaders of Korea and Japan is taking place in Andong, business leaders here in Tokyo are discussing cooperation," Koo said in his opening remarks. "Above all, it is important that we cooperate closely and respond jointly to the common challenges facing both countries." He emphasized cooperation in three areas: energy and power infrastructure, critical minerals and resource supply chains, and AI and robotics.
Akiyoshi responded, "We are now in an era of change, and we must demonstrate the significance and value of Korea-Japan cooperation through concrete action. Business leaders cannot always make perfect choices, but we can share a sense of direction and point to the next step."
Meanwhile, the Korean business leaders met with Japanese Prime Minister Sanae Takaichi the previous day and conveyed their commitment to producing tangible results in economic cooperation in line with the friendly cooperative tone set by the two leaders.
Takaichi said she trusts and supports the Korea-Japan Economic Conference, which has continued for 58 years, in its efforts to bear even greater fruit, and expressed her respect for the business leaders who have steadily maintained exchanges through ups and downs, the association said.
On Thursday, the second day of the conference, a plenary session will be held to address economic cooperation agendas, and a joint statement involving business leaders from both countries will be adopted at the end of the meeting.
