In a pivotal move to strengthen trade relations, business leaders from Korea, Japan, and China have announced plans to establish a trilateral economic consultative body. This initiative aims to tackle pressing economic issues and enhance cooperation among the private sectors of the three nations.
The proposal was unveiled at the Korea-Japan-China Business Summit held at the Korea Chamber of Commerce and Industry (KCCI) headquarters in central Seoul on Monday. Over 280 business leaders, including SK Group Chairman Chey Tae-won, Tokura Masakazu, chairman of the Japan Business Federation, and Ren Hongbin, chairman of the China Council for the Promotion of International Trade, participated in the summit.
“Today, the economies of the three nations have successfully rebounded from the pandemic’s impact, entering a pivotal phase focused on laying the foundations for sustainable prosperity,” remarked Chey Tae-won in his opening speech. He highlighted that the summit's themes of ‘economic revitalization’ and ‘sustainable development’ are crucial for advancing trade cooperation. Discussions centered on enhancing private-sector collaboration in digital transformation, education, green initiatives, and supply chain management.
A key outcome of the summit is the establishment of a private consultative body, designed to facilitate regular and effective business summits and promote consistent trade collaboration among the three countries.
The business summit also saw the presence of South Korean President Yoon Suk Yeol, Japanese Prime Minister Fumio Kishida, and Chinese Premier Li Qiang, following their trilateral summit talks — the first in over four years.
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