Chairman Chey Tae-won: “Is Korea-Japan economic cooperation okay as is?”

by times news cr

2024-05-14 14:51:27

Chairman Choi Tae-won

“Korea and Japan have had a lot of economic cooperation so far, but we have no choice but to ask, is this okay?”

Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry and SK Group, said this at the 56th Korea-Japan Business Conference held in Tokyo, Japan on the 14th, saying, “If this is not okay, I think it is time to explore something that has not been done before.”

Chairman Choi delivered a keynote speech at the Korea-Japan Business Conference that day and emphasized that the two countries must overcome the crisis together because they are in similar situations.

Chairman Chey Tae-won: “Is Korea-Japan economic cooperation okay as is?”

Chairman Choi said, “The challenges facing Korea and Japan both internally and externally are very similar,” adding, “Inwardly, both countries are facing structural growth limits, and both countries are among the world’s longest-lived countries, but their birth rates have continued to decline, and they are now elderly countries with a shortage of people to work. “It is also this,” he pointed out.

Chairman Choi continued, “On the outside, both countries are in the midst of unstable international sentiment. Supply chain management has now emerged as a very important issue due to tensions surrounding the Taiwan Strait, competition for technological hegemony between the United States and China, and the spread of international disputes.” He said.

At the same time, the Korea Chamber of Commerce and Industry and the Japan Chamber of Commerce and Industry presented the results of a joint study conducted over the past six months, saying, “If Korea and Japan implement complete trade liberalization by completely abolishing tariffs, both countries will see an increase in real gross domestic product (GDP) and consumer welfare.” “It turned out to be true,” he claimed.

Chairman Choi said, “As a result of analysis of 12 industrial sectors, we found that production in Korea will increase in all industrial sectors except the machinery industry, and in most industrial sectors in Japan,” adding, “Contrary to concerns that there would be a significant number of industries affected, both countries “We confirmed that it benefits everyone,” he said.

Chairman Choi proposed establishing a ‘Korea-Japan Economic Cooperation Research Platform’ to expand synergy between the two countries. Chairman Choi said, “The idea is to turn research on how to cooperate in each field into a platform and discuss it with everyone involved.”

Chairman Choi said, “In addition, let’s accumulate success stories of joint projects that can be done immediately and easily by Korea and Japan. For example, if we create success stories such as sharing the home medical systems of both countries to respond to aging, mutual trust will be built.” “We will be able to build up and spread the atmosphere of cooperation more widely,” he said.
Reporter Park Hyeon-ik [email protected]

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2024-05-14 14:51:27

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