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‘Korea, Japan should expand economic cooperation,’ says Kim Byung-jun

‘Korea, Japan should expand economic cooperation,’ says Kim Byung-jun

Posted July. 29, 2023 08:13,   

Updated July. 29, 2023 08:13


“Let’s cooperate with each other with the mindset of ‘Deuksimutae,’” said Kim Byung-joon, acting president of the Federation of Korean Industries at the “FKI-Japan Economic Partnership Dinner Meeting” held at the Lotte Hotel in Sogong-dong, Seoul on Friday. Citing the Korean saying, which means ‘Let’s seize every opportunity that comes our way,’ he emphasized the importance of promoting Korea-Japan economic cooperation in line with the recent improvement in Korea-Japan relations.

“Companies from both nations should expand their cooperation further as normalizing Korea-Japan relations is in the right trajectory," Acting President Kim said. "The meeting with the Economic Fellowship Association, an economic organization that leads Japanese economic circles, would be an opportunity to strengthen Korea-Japan economic cooperation.” The Economic Fellowship Association is recognized as one of Japan's three major economic organizations, alongside the Federation of Japanese Economic Organizations (Keidanren) and the Japan Chamber of Commerce and Industry.

During the event, the participants agreed to reinforce collaboration in the joint development of core resources, the reorganization of global supply chains, and adaptation to changing global economic conditions in the context of the Fourth Industrial Revolution. In his congratulatory speech, Minister of Trade, Industry, and Energy, Lee Chang-yang, said, “Korea and Japan should forge a close partnership to advance their common interests. We must collaborate in establishing supply chains for advanced industries such as semiconductors and explore new visions for cooperation in growing together with developing countries.”

Chairman Koo emphasized that few consultation channels are available for discussing the opinions and difficulties of Korean and Japanese entrepreneurs. He also highlighted that both countries could engage in cooperation not only in traditional key industries but also in various fields such as digital transformation, green energy, and startup collaboration.

This event was made possible due to Chairman Shin Dong-bin’s role as a bridge for the Japan Economic Association's visit to Korea. Chairman Shin's attention to detail was evident in his active involvement throughout the overall schedule, including his participation in the luncheon with the presidents of the Korea-Japan Parliamentary Federation and the tech company meeting that took place before the dinner.

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