Japan, S. Korean Biz Leaders Call for Closer Cooperation

May 17, 2018

Tokyo- Leaders from the Japanese and South Korean business circles wrapped up their two-day meeting in Tokyo on Wednesday by adopting a joint statement calling for further cooperation between their countries.

Japan and South Korea need closer cooperation for the creation of an Asian economic zone through implementations of the new Trans-Pacific Partnership free trade pact without the United States and other "mega" free trade agreements, the statement said.

Meanwhile, the statement expressed the business leaders' concern over the rise of protectionism creating a trade war-like situation, namely intensifying U.S.-China trade friction. It also noted that increasing market volatilities are becoming evident.

Business people from Japan and South Korea "vowed to cooperate together in a future-oriented manner to the next 50 years," Mikio Sasaki, chairman of the organizer Japan-Korea Economic Association, told a press conference after the 50th gathering since 1969. Sasaki also serves as special adviser to major Japanese trading house Mitsubishi Corp. Jiji Press