Key facts
- Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry (KCCI), advocated for stronger economic ties between South Korea and Japan.
- He highlighted shared industrial structures, markets, and technologies as a basis for partnership.
- Chey suggested cooperation in areas such as passport-free travel, startup growth, and AI data sharing.
- The KCCI chairman emphasized the importance of economic solidarity to navigate a changing global economic environment.
Chey Tae-won, chairman of South Korea's major business lobby group, the Korea Chamber of Commerce and Industry (KCCI), has called for enhanced economic cooperation with Japan. Speaking at a meeting with his Japanese counterpart in Sendai, Japan, Chey emphasized that the two nations, sharing similar industrial structures, markets, and technologies, can serve as crucial partners in expanding each other's markets.
Chey stated that such collaboration is vital given the rapidly changing global economic landscape. He believes that the strengths of one country can compensate for the weaknesses of the other, fostering economic solidarity. Chey, who also leads the SK Group, which includes chipmaker SK hynix Inc., highlighted the importance of jointly building larger market and industrial ecosystems.