Seoul: Business leaders from South Korea and Japan have reached a consensus to bolster cooperation in key sectors such as artificial intelligence (AI) and semiconductors, while also backing South Korea's pursuit to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This development was announced during the 57th South Korea-Japan Business Conference in Seoul, a two-day annual meeting that convened approximately 300 business and economic representatives from both nations.
According to Yonhap News Agency, the agreement was formalized through a joint statement, highlighting the 60th anniversary of diplomatic relations between Seoul and Tokyo. The statement emphasized the importance of mutual trust and friendship, aiming for collaboration that benefits South Korea, Japan, and the global community.
The areas identified for cooperation encompass carbon neutrality, hydrogen energy, AI, and semiconductor industries, alongside bio and health care sectors. Additionally, the business leaders pledged to tackle social issues like low birthrates and aging populations collaboratively.
In support of South Korea's efforts to join the CPTPP, the participants agreed to assist in preliminary measures by relevant organizations to streamline the accession process. The CPTPP is a significant Indo-Pacific trade agreement that includes 12 countries, such as Japan, Australia, Canada, Britain, and Vietnam, collectively accounting for about 15.2 percent of global trade as of 2019.