Hankyung Association, U.S. Chamber of Commerce, and Japan Keidanren
Korea-U.S.-Japan Business Dialogue in Washington D.C.
MOU to Regularize Meetings for Economic Support
Samsung, SK, Hyundai Motor, POSCO Join Korean Delegation
Major economic organizations from Korea, the United States, and Japan have formed a consultative body for long-term economic cooperation, including collaboration in economic security and technology sectors.
The Korea Economic Organization Association (KEOA), the U.S. Chamber of Commerce, and Japan’s Keidanren (Japan Business Federation) held the "1st Korea-U.S.-Japan Business Dialogue" on the 26th (local time) at the U.S. Chamber of Commerce headquarters in Washington, D.C., the KEOA announced on the 27th.
The Korea-U.S.-Japan Business Dialogue was organized in conjunction with the Korea-U.S.-Japan Ministerial Meeting on Industry held the same day in Washington, D.C. Representatives of the three countries’ economic organizations signed a memorandum of understanding (MOU) for mutual cooperation in the presence of government officials from the three countries and officially declared the launch of the private sector economic consultative body.
Accordingly, the three economic organizations agreed to institutionalize the Korea-U.S.-Japan Business Dialogue by holding it at least once a year to expand continuous and long-term economic cooperation, linking it with summits or intergovernmental meetings among the three countries. They also agreed to continue exchanging information and proposing policies to expand trade and investment in fields such as IT innovation, digital economy and manufacturing, energy, and infrastructure. They reached consensus to raise their voices together on common economic issues of the three countries on the international stage. The launch of the Korea-U.S.-Japan private sector economic consultative body carries forward the "Agreement for Comprehensive Cooperation among the Three Countries" derived from the Korea-U.S.-Japan summit meeting last August.
On the 12th, employees of tenant companies are moving at the Korea Economic Association in Yeouido, Seoul. Photo by Jinhyung Kang aymsdream@
Following the Korea-U.S.-Japan Business Dialogue, a discussion was held with participation from eight Korean companies including Samsung Electronics, SK, Hyundai Motor, POSCO, and Hanwha. From the U.S., ten companies such as Intel, Qualcomm, Amazon, and Google participated, while eight companies including Toyota and Sony joined from Japan. The companies discussed ways to strengthen cooperation in trade, advanced industries, energy, and conflict minerals under the theme of "Current Status of Korea-U.S.-Japan Economic Cooperation and Resilient Growth Strategies."
In his congratulatory remarks, Ahn Deok-geun, Minister of Trade, Industry and Energy, stated, "The Korean government will do its utmost to support making the future vision of industrial cooperation shared by companies from the three countries today a reality." Kim Chang-beom, Executive Vice Chairman of KEOA, said, "The institutionalization of the trilateral cooperation in industry and economy discussed at the Korea-U.S.-Japan summit means that the economic sector believes more stable economic cooperation among the three countries will be possible."
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