Over half of Korean firms say economic ties with Japan beneficial: survey

Korean and Japanese business leaders pose during the opening ceremony of the 57th Korea-Japan Business Conference at a hotel in Seoul, May 27. Yonhap

Over half of Korean companies view economic cooperation with Japan as beneficial and believe it should continue, a survey showed Thursday, as the two nations mark the 60th anniversary of the normalization of diplomatic ties this year.

In the poll conducted by the Federation of Korean Industries (FKI) on the country's top 1,000 non-financial firms by sales, 56.4 percent of responding firms said the bilateral economic cooperation has contributed to the development of Korea's economy.

Specifically, 7.9 percent said it had a very positive impact, while 48.5 percent assessed it as generally positive. Another 33.7 percent said the impact was neutral, while 9.9 percent believed it had somewhat hindered development.

The areas cited as most positively affected by the bilateral cooperation were technology transfer, market expansion, tourism and cultural industries.

In addition, 62.4 percent of respondents said continued economic cooperation is necessary for Korea's future growth.

Companies that expected to generate the most synergy with Japan in the future included those in the semiconductor, artificial intelligence (AI), automobile and biotechnology industries.

"Amid global geopolitical changes and shifting trade orders, the importance of economic cooperation between Korea and Japan is becoming even more prominent," an FKI official said. "We will actively support companies in expanding their global footprint through partnerships."