President Yoon Emphasizes 'Inter-Company Exchange' to Prime Minister Kishida

"Once Relations Normalize, Business Exchanges Will Become Active"... Economic Diplomacy Beyond Historical Issues and Security Also Draws Attention

[Asia Economy Reporter Baek Kyunghwan] It is reported that President Yoon Suk-yeol emphasized to Japanese Prime Minister Fumio Kishida the need to revitalize exchanges between companies of the two countries.

According to the presidential office on the 9th, during the meeting with Prime Minister Kishida in New York, USA, on the 22nd of last month, President Yoon expressed the view that "if Korea-Japan relations normalize, exchanges among businesspeople will become active." He also said, "Exchanges among businesspeople will create many business opportunities and greatly benefit the economies of both countries."

While Korea-Japan relations have focused on historical issues and security, it is understood that economic matters are also being approached with interest. Earlier, on the 6th, President Yoon made similar remarks during a phone call with Prime Minister Kishida.

At that time, President Yoon and Prime Minister Kishida agreed to cooperate to respond firmly to North Korea's missile provocations. The two leaders strongly condemned North Korea's ballistic missile launches as serious and grave provocations threatening peace and security not only on the Korean Peninsula but also in Northeast Asia and the international community, and agreed to cooperate closely to respond firmly to North Korea.

Furthermore, the two leaders shared the view that Korea and Japan are partners who must cooperate on various issues in the international community. They evaluated that there is a positive trend in bilateral relations, including the talks held last month on the occasion of the UN General Assembly, and agreed to continue related diplomatic efforts. They also agreed to communicate openly and frequently on various issues, including security matters.

Currently, President Yoon is focusing on supporting the activities of domestic companies following his recent overseas visits. During meetings with U.S. President Joe Biden in London, UK, and New York, USA, last month, he conveyed domestic companies' concerns regarding the U.S. Inflation Reduction Act (IRA). He raised the same concerns during U.S. Vice President Kamala Harris's visit to Korea and received an official response through a letter from President Biden on the 4th, stating, "We will continue consultations with honesty and openness."

On the 7th of this month, at the Yongsan Presidential Office, President Yoon met with the chairman of Applied Materials, the world's number one semiconductor and display equipment company, to review Korea-U.S. investment cooperation. President Yoon told Chairman Gary Dickerson, "This investment by AMAT, which holds a very important position in the domestic semiconductor industry supply chain, will greatly contribute to strengthening the Korea-U.S. economic, industrial, and technological alliance."