SK Group Chairman Chey Tae-won said on the 4th (local time), “If Korea and Japan develop into an economic cooperation body in the form of a single market like the European Union (EU), not only can tremendous synergy be created, but it can also help peace in Northeast Asia.” insisted. As security cooperation between Korea, the United States, and Japan is strengthened, if the Korea-Japan economic union is launched in earnest, it will be possible to solve the structural problems of both Korea and Japan, such as population decline and low growth due to low birth rates, while lowering security threats due to strategic competition between the United States and China and threats from North Korea.
Chairman Choi attended the ‘2023 Trans Pacific Dialogue (TPD)’ held by the Choi Jonghyun Academy near Washington, the U.S. capital, and said, “Korea and Japan have enjoyed many benefits from the World Trade Organization (WTO) system, but now those benefits are disappearing. “China, which used to be a large market, has now turned into a strong competitor,” he pointed out. He continued, “Korea and Japan are facing the problems of aging, population decline, and low economic growth rates, and it is difficult to maintain their current economic status any longer. The way to solve this is an economic cooperation model like the EU.”
Current and former high-ranking officials from Korea, the United States, and Japan who attended the TPD on this day also emphasized the need to strengthen economic cooperation between Korea and Japan. As the possibility of former President Donald Trump’s re-election increases, there are concerns that the trilateral cooperation between Korea, the United States, and Japan, including the Camp David Agreement, may be shaken, so cooperation between Korea, the United States, and Japan must be institutionalized.
Former U.S. Ambassador to Korea Mark Lippert proposed that Korea, the United States, and Japan designate five or six core technologies to share the supply chain situation and establish a joint response system for economic retaliation. Former Ambassador Lippert emphasized, “By creating a joint list of what the most sensitive and priority technologies are, we will be able to identify the raw materials and supply chains that are essential to sustaining these technologies.”
Regarding the Korea-Japan economic cooperation plan, former National Security Office Director Kim Seong-hwan said, “There are voices saying that the Korean and Japanese governments should establish an economic community in the form of the European Coal and Steel Community of Germany and France,” and “The Korean and Japanese governments should review this in the long term.” said. Former Director Kim said, “I propose that a trilateral cooperation secretariat be established as soon as possible to oversee and coordinate trilateral cooperation (Korea, the United States, and Japan).”
Former Japanese Ambassador to the United States Ichiro Fujisaki also called the Korea-Japan economic cooperation plan “a very good idea” and suggested, “One way is to start with the most important dispute resolution mechanism between Korea and Japan and develop it.”
Regarding the reorganization of the group’s management, Chairman Choi predicted a large-scale personnel reorganization, saying, “The time has come when we must give opportunities to new and young managers.”
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Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.