KITA seeks to revitalize Korea-Japan business exchanges

Korea International Trade Association (KITA) Chairman Koo Ja-yeol, center, poses with Kansai Economic Federation Executive Director Kakumoto Keiji, left, and Kansai Economic Federation Chairman Miyabe Yoshiyuki, during a luncheon meeting in Osaka, Japan, Tuesday. Courtesy of KITA

By Kim Hyun-bin

Koo Ja-yeol, chairman of the Korea International Trade Association (KITA), held a luncheon meeting with the Kansai Economic Federation in Osaka, Japan, Tuesday, hoping the easing of relations between Korea and Japan would serve as an opportunity to strengthen cooperation with the Kansai region, Japan's second-largest economic zone.

At the meeting, Koo said the South Korea-Japan relationship is becoming favorable after two summit meetings between the two countries, and that economic cooperation is accelerating. He also introduced various private sector exchange programs such as the 22nd Tokyo Korea product exhibition and the Korea-Japan future industry cooperation forum that are being pursued to activate private sector exchanges.

The luncheon was attended by key Japanese business leaders including Kansai Economic Federation Secretary General Kakumoto Keiji.

In his welcoming remarks, Kakumoto Keiji said the Kansai region is a production base and supply chain partner for secondary batteries such as lithium-ion batteries and can strengthen cooperation with Korean companies. Keiji says its entity will work with KITA to expand cooperation and activate exchanges to help develop the future-oriented bilateral relationship.

KITA and the Kansai Economic Federation agreed to sign a memorandum of understanding (MOU) during the Kansai Economic Federation's upcoming visit to Korea in August to establish a constant dialogue channel for Korean and Japanese businesspeople and expand exchanges. The trade association said it plans to actively pursue various activities to resolve trade difficulties between the two countries.

The Kansai Economic Federation is a group established by 83 medium-sized Japanese companies voluntarily for the reconstruction of the Japanese economy after the Korean War. It is one of the three major economic organizations in the Kansai region and currently has more than 850 corporate members.