Closing Ceremony Held Today After Two-Day Schedule
Joint Statement Issued: "Expanding Economic Cooperation and Exchanges"
"Actions to Promote CPTPP Accession to Be Taken"
Calls for Korea and EU to Join... Japan Officially Expresses Support
Business leaders from South Korea and Japan concluded the 57th Korea-Japan Business Meeting, held at Lotte Hotel in Sogong-dong, Jung-gu, Seoul, on May 27-28, and issued a joint statement that included a commitment to cooperate on South Korea's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Kim Yoon, chairman of the Korea-Japan Economic Association, is delivering the opening address at the 57th Korea-Japan Business Meeting held at Lotte Hotel in Jung-gu, Seoul on May 27, 2025. Photo by Yoon Dongju
In the joint statement released on May 28, the Korea-Japan Business Meeting announced, "As part of creating an environment to realize linkage and cooperation between the Korean and Japanese business communities, we will take the lead in working with relevant organizations to promote South Korea's accession to the CPTPP."
The CPTPP is an economic agreement that was relaunched in December 2018 under Japan's leadership after the United States withdrew from the Trans-Pacific Partnership (TPP), which it had previously led. Currently, 12 countries, including Japan, Canada, the United Kingdom, and Vietnam, participate in the agreement, and the combined gross domestic product (GDP) of these member countries accounts for 15% of the world's total, giving the CPTPP significant influence. Amid the rise of protectionist trade policies led by U.S. President Donald Trump, who has prioritized tariffs, there have been growing calls worldwide for South Korea and the European Union (EU) to join the agreement. Against this backdrop, the joint statement is significant in that Japan, which plays a central role in the CPTPP, has officially expressed its intention to support South Korea's accession.
In addition, the Korea-Japan Business Meeting pledged in the joint statement to build and enhance mutual trust, and to expand economic ties and exchanges. "Marking the 60th anniversary of the normalization of diplomatic relations between Korea and Japan, business leaders from both countries reaffirmed the value of the trust and friendship they have built over the years, and resolved to pursue innovative partnerships and cooperation for the bright future of Korea, Japan, and the world," the statement read. It continued, "Korea and Japan are neighboring countries in East Asia, sharing the ideals of freedom and democracy, and in business, they are both competitors and mutually complementary partners. Furthermore, since both countries face many common challenges, cooperation between Korea and Japan is inevitable. We have agreed to cooperate for the sustainable economic development of both countries, and to work together on achieving carbon neutrality and a hydrogen society, fostering collaboration in artificial intelligence (generative AI) and semiconductors, nurturing the bio and healthcare industries, strengthening supply chains, securing energy, and addressing social issues such as low birth rates and aging populations."
The statement also added, "In order to realize unrestricted movement of people across borders, we request and look forward to the simplification and elimination of necessary immigration procedures."
The Korea-Japan Business Meeting is a leading private-sector economic conference between South Korea and Japan. It was institutionalized in 1969 to facilitate economic cooperation discussions following the normalization of diplomatic relations in 1965, with an agreement to hold the meeting annually. Since the first meeting in 1969, it has never been interrupted, despite political conflicts or the COVID-19 pandemic, and has alternated between the two countries each year, contributing to economic growth and mutual development.
The next, 58th Korea-Japan Business Meeting will be held in Japan next year.
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