Japanese and South Korean entrepreneurs want freer and more democratic economy

Japanese and South Korean business leaders agreed on Friday about the importance of continuing private sector trade between the two countries, no matter how political and diplomatic situations change.

The two sides adopted a joint statement confirming their shared vision at a meeting in Tokyo, attended by about 20 entrepreneurs and held by the Japan Business Federation, or Keidanren, and the Federation of Korean Industries.

President of the Business Federation of Japan, Hiroaki Nakanishi, third from the right, and President of the Federation of Korean Industries, Huh Chang-soo, third from the left, attend a meeting in Tokyo on Friday. Photo: Jiji Press

Participants discussed from the private sector point of view what else should be done for bilateral economic and industrial cooperation at a time when relations between the two countries fell mainly due to wartime labor and tighter controls. export price on semiconductor materials.

"The Japanese and South Korean economies, embedded in a supply chain, are partners that are mutually essential," Keidanren President Hiroaki Nakanishi said at the beginning of the meeting.

South Korean Federation President Huh Chang-soo said the two countries should lead efforts to protect the value of the free and democratic market economy amid growing threats to the international trade order against protectionism.

Source: Jiji Press

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