Seoul: Business leaders from South Korea and Japan have agreed to strengthen bilateral cooperation in the fields of artificial intelligence (AI) and semiconductors, as well as support South Korea's efforts to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This decision was reached during the 57th South Korea-Japan Business Conference held in Seoul, which saw the involvement of around 300 business and economic representatives from both nations.
According to Yonhap News Agency, the joint statement issued during the conference highlighted the commitment to expanding cooperation in key sectors, including carbon neutrality, hydrogen energy, AI, and the semiconductor industry. The statement also noted the intention to collaborate on addressing social challenges, such as low birthrates and aging populations. As part of the agreement, the participants expressed their support for South Korea's bid to join the CPTPP, emphasizing the need for preliminary measures among relevant organizations to facilitate this move.
The CPTPP is a significant Indo-Pacific trade agreement comprising 12 countries, including Japan, Australia, Canada, Britain, and Vietnam, which collectively accounted for about 15.2 percent of global trade as of 2019. The conference's focus on strengthening economic ties between South Korea and Japan also stems from shared concerns over the United States' growing protectionism and the intensifying U.S.-China rivalry.
During a press conference following the statement's release, Kim Yoon, co-chairman of the Korea-Japan Economic Association (KJE), highlighted the challenges posed by the new U.S. administration's trade policies and China's rapid technological advancements. He indicated the possibility of a joint response from Korea and Japan to U.S. trade pressures. Yutaka Aso, vice chairman of the Japan-Korea Economic Association, emphasized the importance of partnership over rivalry, citing the urgency created by U.S. President Donald Trump's "America First" policy and the prospect of a more assertive China.
Aso also addressed the incoming South Korean administration, urging it to prioritize Korea-Japan relations and push for necessary reforms to strengthen cooperation between the two countries.