Koo Jayeol, LS Group Chairman, Inaugurated as 16th President of the Korea-Japan Economic Association

Korea-Japan Economic Association Holds 45th Regular General Meeting

Koo Jayeol, chairman of the board of LS Group, was elected as the new president of the Korea-Japan Economic Association on the 25th.

The Korea-Japan Economic Association, a non-profit corporation, held its 45th regular general meeting at 11:30 a.m. on this day in the Emerald Room on the second floor of Lotte Hotel Seoul. At this general meeting, Chairman Koo was elected as the 16th president, and Chairman Kim Yoon was appointed honorary president.

Koo Jayeol, chairman of the board of LS Group, was elected as the 16th president of the Korea-Japan Economic Association. LS Group

In his inaugural address, the new president Koo stated, "I will work hard to promote economic cooperation with Japan by joining forces with our partner organizations in Japan," adding, "I will meet with our member companies more frequently to listen to their opinions, and I will devote my capabilities to the development of the association as it marks its 45th anniversary."

Honorary president Kim Yoon said, "I believe economic cooperation is the key to opening a friendly relationship between Korea and Japan," reflecting on his experience of leading the association over the past 12 years as its longest-serving president. Chairman Kim recalled, "In particular, we have steadily pursued joint entry into third countries by leveraging Korea's speed management and boldness, along with Japan's meticulousness. Youth exchanges between the two countries are also a meaningful achievement. I remember that last year's Korea-Japan high school summer camp was held in Korea."

Along with the appointment of the new president, new vice presidents of the association were appointed as follows: Kwon Daeyeol, in charge of ESG at Kakao Group; Kim Sungwon, president of GS Global; and Seo Hyungwon, chairman of KD Market. In addition, Kim Sungyong, president of Dongwon F&B, was newly appointed as an executive director.

Among the outgoing members of the leadership whose terms have expired, Park Seunghee, president of Samsung Electronics; Shin Dongbin, chairman of Lotte Group; Lee Hyunghee, vice chairman of SK; Cho Hyunjoon, chairman of Hyosung Group; Cho Won-tae, chairman of Hanjin Group; Jin Ok-dong, chairman of Shinhan Financial Group; and Seo Seoksung, full-time vice president of the association, were reappointed.

Since 2021, President Koo has served as the 31st chairman of the Korea International Trade Association, acting as a civilian diplomat essential to Korea-Japan economic cooperation and making significant contributions to restoring mutual trust between the two countries. He established the "Korea-Japan Exchange Special Committee" to promote economic cooperation among businesspeople of both countries. At the 2022 Korea-Japan Business Conference, he proposed the resumption of visa-free entry for businesspeople, the strengthening of cooperation in next-generation industries, and the creation of a standing consultative body jointly participated in by the governments and corporations, thereby serving as a communication bridge connecting political and business leaders in Japan and the broader business communities of both countries.

In recognition of these contributions, President Koo received an honorary Doctor of Laws degree from Waseda University in Japan in October last year. Others who have been awarded this degree include Koo Duhhoe, honorary chairman of Yesco; the late former Samsung chairman Lee Kunhee; and Yeom Jaeho, former president of Korea University.