On the afternoon of May 26, Minister of Foreign Affairs Cho Tae-yul met with a delegation from the Japan-Korea Economic Association, including Vice Chairman Aso Yutaka, who visited South Korea to attend the 57th Japan-Korea Economic Conference (May 27-28), and exchanged views on economic cooperation between the two countries.

Minister Cho expressed gratitude for the Japan-Korea Economic Association's significant role in promoting exchanges and creating cooperation opportunities between companies of both countries, and urged the business communities of both countries to continue playing an active role to sustain the momentum of improved friendly cooperation between Korea and Japan, which has been difficult to achieve recently.

In particular, he emphasized the need for the two countries, which are facing similar challenges due to the rapidly changing trade environment, to maintain close communication at the government and business levels, while also expanding cooperation within the framework of the trilateral cooperation between South Korea, the United States, and Japan.

In addition, he noted that the Korean Pavilion at the Osaka Expo currently underway in Japan has secured a spot among the top three most popular pavilions alongside the U.S. and Italian pavilions, and expressed hope that the friendly atmosphere between the two countries will be further strengthened based on the interest shown by many Japanese people in the Korea Day event (May 13). He also expressed hope for the active participation of Japanese companies in the APEC meeting to be held in Gyeongju in October.

Aso emphasized the growing importance of economic cooperation between South Korea and Japan amid the severe global situation and introduced various activities of the Korea-Japan Economic Association aimed at promoting economic cooperation between the two countries, including the Korea-Japan High School Student Camp and internship programs for Korean university students organized by Japanese companies in South Korea. Aso stressed that human exchange centered on the younger generation plays a very important role in the future of bilateral relations, and called for both countries to work together to address common challenges such as low birth rates, aging populations, and supply chain crises, and to design a shared future.

Koji Akio, the incoming chairman of the Japan-Korea Economic Association, who will take office next month, stressed the need for Japan and South Korea to demonstrate leadership in safeguarding the multilateral trade system under the new global economic environment and to jointly promote cooperation with ASEAN and other global southern countries.

Mizushima Koichi, Japanese Ambassador to South Korea, highly evaluated the fact that the “Korea-Japan Business Leaders' Conference” has been held without interruption for 57 years since its first meeting in 1969, contributing to the solidification of bilateral relations, despite the ups and downs in bilateral relations. He also stated that economic strength is the source of national power for both Korea and Japan, and that the role of the business community is important. Additionally, Ambassador Mizushima expressed gratitude to Minister Cho for the stable development of bilateral relations under the strong trust between Minister Cho and Japanese Foreign Minister Iwaya, and expressed hope for strengthened cooperation between the foreign ministries of both countries in the future.

The Ministry of Foreign Affairs will continue to listen to the voices of the business communities of both countries to expand economic cooperation between South Korea and Japan, make efforts to support businesses, and maintain close communication with the Japanese government.

[News Source: Ministry of Foreign Affairs]