Korea and Japan Economic Leaders Collaborate on Hydrogen, Population, Culture

To mark the 60th anniversary of the normalization of South Korea-Japan diplomatic relations, economic leaders from both countries have agreed to cooperate in future areas such as hydrogen, population, and culture. As both nations face common challenges like low birth rates and aging populations, the aim is to join hands and address these issues together.

The two countries’ representative economic organizations—the Federation of Korean Industries and Japan Federation of Economic Organizations, Keidanren—held a commemorative event for the 60th anniversary in Tokyo, Japan, on the 16th and discussed these cooperation plans. The event was attended by Prime Minister Ishiba Shigeru of Japan, Lee Hyuk, South Korea’s ambassador to Japan, Ryu Jin, chairman of the Korea Economic Federation, and Tsuji Yoshinobu, chairman of Keidanren, among others.

At the forum held earlier, economic leaders from both countries agreed to collaborate in three areas: environment and energy, low birth rates and aging populations, and culture and startups. For instance, a proposal was made for South Korea and Japan to jointly establish a ‘large-scale hydrogen and ammonia hub terminal’ to flexibly respond to supply and demand fluctuations based on economies of scale. Additionally, ideas such as forming a private-sector cooperation body to address the population crisis and establishing a joint fund for cultural exchanges between the two countries were also proposed.

Ryu Jin, chairman of the Korea Economic Federation, said:

These cooperation plans will serve as the foundation for a new relationship between the two countries,

While Tsuji Yoshinobu, chairman of Keidanren, stated,

It is time for the two countries, facing common challenges, to pool their wisdom for the future and continue sustainable growth.

The reception that followed was attended by numerous key political and business figures from both countries, including Prime Minister Ishiba and Ambassador Lee Hyuk. From South Korea, attendees included Shin Dong-bin, chairman of Lotte Group; Koo Ja-eun, chairman of LS Group; Cho Hyun-joon, chairman of Hyosung Group; Kim Yoon, chairman of Samyang Holdings; Sung Rae-eun, vice chairman of Youngone Corporation Group; Shin Hak-cheol, vice chairman of LG Chem; Jung In-seop, president of Hanwha Ocean; and Choi Soo-yeon, head of Naver, among others.

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