FKCCI Meets Japanese Ambassador to Request 'Easing of Export Restrictions and Korea-Japan Summit'

[Asia Economy Reporter Changhwan Lee] The Federation of Korean Industries (FKI) met with the Japanese Ambassador to Korea to request the easing of export regulations.

On the morning of the 22nd, the FKI held a business breakfast meeting by inviting Koji Domita, the Japanese Ambassador to Korea, at the FKI Conference Center in Yeouido, Seoul.

In his greeting, Kwon Tae-shin, Vice Chairman of the FKI, requested the Japanese Ambassador's active efforts to ease Japan's export regulations on parts and materials implemented in July last year and to expedite a Korea-Japan summit.

Vice Chairman Kwon said, "If the international division of labor system for materials, parts, and equipment between Korea and Japan functions properly, the added value created in the manufacturing sectors of both countries based on 2018 data is analyzed to reach approximately 136 trillion won," adding, "We hope for the Ambassador's interest and support so that both Korea and Japan do not let go of the thread of resolving mutual export regulations through dialogue."

He emphasized the necessity of an early Korea-Japan summit to ease strained relations and also requested the Japanese Ambassador to Korea's efforts to realize the summit.

Vice Chairman Kwon stated, "Difficult Korea-Japan relations can find a clue for improvement simply by the two heads of state meeting, so I ask for the Ambassador's active efforts to make the Korea-Japan summit happen," and suggested, "Active support from the Japanese government for Korean companies struggling due to COVID-19 and continuous interest from the embassy and the Japanese government for joint entry into third-country markets are also necessary."

About 20 businesspeople interested in Japan-related business attended the meeting, including representatives from Hyosung, Poongsan, Korean Air, Lotte Construction, Dongyang Moolsan Enterprise, Hanwha Solutions, Samyang Corporation, Hyundai Motor Company, SK Hynix, LS-Nikko Copper, Kookmin Bank, Canon Korea, Kelly Services, Transcosmos Korea, law firms Kim & Chang, Gwangjang, Bae, Kim & Lee LLC, and Yulchon.