KITA accelerates improved Korea-Japan business ties
Korea International Trade Association (KITA) Chairman Koo Ja-yeol speaks during a meeting to celebrate the establishment of the Korea-Japan Special Exchange Committee, in Seoul, Wednesday. Courtesy of KITA
The nation’s trade association has established the Korea-Japan Special Exchange Committee to boost private business partnerships between the two countries amid thawing bilateral relations, the Korea International Trade Association (KITA) said Wednesday.
“Japan is not just a competitor for Korea from an industrial perspective, but a partner that can create bigger synergies once both sides work together,” KITA Chairman Koo Ja-yeol said. “Businesspeople from the two countries should enhance communication and collect their thoughts together in various areas – including the economy and security – so they can brace for the rapidly-changing future. The committee will serve as a bridge that connects companies from both countries.”
Hyosung Group Chairman Cho Hyun-joon was appointed as the head of the committee during KITA’s internal meeting where a group of 15 businessmen – including Koo – took part.
Koo has long underscored the importance of setting up the committee at a time when global supply chains are being disrupted.
Hyosung Group Chairman Cho Hyun-joon delivers his plans after being named a head of the Korea-Japan Special Exchange Committee in Seoul, Wednesday. Courtesy of KITA
The primary role of the committee is to discuss ways to activate bilateral exchanges in business and review a set of agendas presented by Korea’s business circle before they expand into the Japanese market, according to KITA.
“Promising companies and startups leading innovative technologies, such as artificial intelligence and bio have joined as members of the special committee,” Koo said. “We will keep elevating the range and depth of the bilateral business partnerships and manpower exchanges, particularly in the next industrial areas.”
In March, the committee plans to hold a Korea-Japan trade conference in Tokyo, and also plans to hold multiple seminars by inviting experts, KITA said. It will also hold the Next Rise 2024 startup seminar by inviting Japanese businesspeople.
“The Korea-Japan Special Exchange Committee is expected to solidify private-sector ties between the two nations in diverse areas encompassing the economy, security, supply chains and even manpower exchanges, utilizing the rehabilitated relations between the two countries,” an official from the committee said.