S. Korea's biz lobby group chief calls for stronger economic ties with Japan

SEOUL, August 31 (Yonhap) -- The chairman of South Korea's leading business lobby group, Chey Tae-won, has called for stronger economic ties between South Korea and Japan. Speaking at a meeting with his Japanese counterpart in Sendai, Japan, Chey emphasized the need for closer cooperation, stating that the two countries share many similarities in their industrial structures, markets and technologies.

He highlighted that the strengths of one country can compensate for the weaknesses of the other, emphasizing the importance of jointly building a larger market and industrial ecosystem. This, Chey believes, represents economic solidarity between South Korea and Japan. He suggested several areas for collaboration, including a pilot program for passport-free travel between the two nations, facilitating startup growth through cross-border investment, and sharing artificial intelligence data to help set global standards.