Is the Korea-Japan Economic Community Accelerating?

Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry, met with Ishiba Shigeru, the Prime Minister of Japan, on the 27th and conveyed the opinion that "it is necessary to expand economic cooperation and close collaboration between Korea and Japan to commemorate the 60th anniversary of the normalization of diplomatic relations between Korea and Japan this year." Chey is the first Korean business leader confirmed to have an official meeting with Prime Minister Ishiba.

According to the Chamber of Commerce, Chairman Chey, during his visit to Prime Minister Ishiba at the Prime Minister's Office in Tokyo, Japan, in the afternoon, emphasized the need for economic cooperation between the two countries, stating that "Korea and Japan are experiencing difficulties due to the spread of global protectionism, such as mutual tariffs with the United States." It seems that Chey mentioned his usual theory of the 'Korea-Japan Economic Community Initiative' at this meeting. The core is to develop into an economic community close to a single market like the European Union (EU), beyond simple economic cooperation or trade liberalization. Chey also proposed the Korea-Japan Economic Community as the top priority during economic organization meetings with presidential candidates Lee Jae-myung of the Democratic Party and Kim Moon-soo of the People Power Party.

Chairman Chey asked Prime Minister Ishiba for the interest and support of the Japanese government in the business activities of companies from both countries, and requested the participation of leading Japanese companies along with Prime Minister Ishiba's interest in the APEC CEO Summit hosted by the Chamber of Commerce during the Asia-Pacific Economic Cooperation (APEC) Summit to be held in Gyeongju, Korea, in October this year. In addition to Chairman Chey, Park Il-jun, Executive Vice Chairman of the Korea Chamber of Commerce, and Lee Hyung-hee, Vice Chairman of the Seoul Chamber of Commerce (Chairman of the SK Supex Council Communication Committee), also attended the meeting.

Prior to this, in September 2022, Chairman Chey was the first Korean business leader to meet with then-Japanese Prime Minister Kishida Fumio. Meanwhile, on this day, Chairman Chey also met with Kobayashi Ken, Chairman of the Japan Chamber of Commerce and Industry.

ehcho@fnnews.com Cho Eun-hyo Reporter