Kim Changbum Presents at Korea-Japan Businessmen's Meeting
Advanced Industries, Low Birthrate and Aging Population, Clean Energy, and More
"Korea Should Also Strive for International Cooperation, Including CPTPP Membership"
Kim Changbum, Executive Vice Chairman of the Korea Economic Association (KEA), proposed the "Five Strategic Areas for Korea-Japan Cooperation," including solidarity in the shipbuilding supply chain and development of liquefied natural gas (LNG), at the 57th Korea-Japan Businessmen's Meeting held at Lotte Hotel in Sogong-dong, Jung-gu, Seoul on May 28.
The 57th Korea-Japan Businessmen's Meeting held at Lotte Hotel, Jung-gu, Seoul on the 27th-28th Photo by Yonhap News
During the presentation session at the meeting, Vice Chairman Kim stated, "Korea and Japan are in very similar positions amid external environmental changes such as the United States' 'America First' policy and intensifying US-China conflicts, which makes mutual cooperation increasingly necessary," and presented these proposals.
The five areas of cooperation proposed by Vice Chairman Kim are advanced industries, low birthrate and aging population, clean energy, mid- to long-term economic solidarity, and human exchange.
As examples of advanced industry cooperation, Vice Chairman Kim cited the shipbuilding industry and artificial intelligence (AI), stating, "The Trump administration identified Korea and Japan as key partners for the US shipbuilding industry. The model in which Korea and Japan produce component modules and assemble them in the United States could serve as a best practice for Korea-US-Japan supply chain solidarity."
Regarding clean energy, he emphasized, "If Korea and Japan participate in the development of Alaskan LNG, not only can we secure a stable supply source, but it could also be used as leverage in tariff negotiations with the United States. There is also analysis suggesting that a joint Korea-Japan consortium should be considered to disperse risk and achieve economies of scale."
On mid- to long-term solidarity, he said, "To respond to US-centered trade strategies, Korea should actively pursue international cooperation such as joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and defending the free trade order. It is also time to actively consider forming a Korea-Japan economic community through labor market opening and unification of technical standards."
Additionally, he proposed cooperation in the silver and robotics industries to address low birthrate and aging population, as well as the establishment of a joint payment system and introduction of mutually compatible transportation cards to expand human exchange.
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