Lee calls supply chain cooperation with Japan 'essential'

President Lee Jae Myung called for deeper cooperation between South Korea and Japan on advanced industry supply chains Friday, urging both countries' business communities to expand not only corporate ties but also broader civilian exchanges amid growing global economic uncertainty.

Lee received Tsutsui Yoshinobu, chairman of the Japan Business Federation, known as Keidanren, and other members of a Japanese business delegation at Cheong Wa Dae on Friday. The delegation was in Seoul for the Korea-Japan Business Council.

Also present were Iwata Keiichi, chairman of Sumitomo Chemical, Higashihara Toshiaki, chairman of Hitachi, and Ryu Jin, chairman of the Korea Enterprises Federation, who represented the South Korean side.

Lee expressed appreciation for the long-standing close relationship between the two countries' business communities and their contributions to economic growth, thanking the executives for their efforts.

"South Korea and Japan are critically important partners when it comes to cooperation on advanced industry supply chains," Lee said. "Just as the two governments are actively maintaining shuttle diplomacy between their leaders to build a mutually beneficial relationship, I hope both countries will continue to expand not only business ties but also civilian exchanges."

He added that public sentiment toward each other had improved significantly in both countries. "Let us work together — governments and business communities of South Korea and Japan, as neighboring nations — to expand economic cooperation in a future-oriented way," he said.

The two countries are closely linked through global supply chains in advanced industries such as semiconductors. As competition in high-tech sectors intensifies and supply chain stability emerges as a key economic concern, the importance of bilateral industrial cooperation has grown. Analysts say the meeting is significant as an effort to extend the diplomatic cooperation between the two governments into the private business sphere.

Tsutsui noted that people-to-people exchanges between the two countries surpassed 13 million last year, a record high, saying the development reflected the deepening of the bilateral relationship.

"As the international economic order grows more turbulent, the importance of cooperation among like-minded countries is increasing," he said. "There have been difficult periods in the Korea-Japan relationship, but through the Korea-Japan Business Council — now in its 33rd session this year — our two business communities will continue to work together."

The Korea-Japan Business Council, established in 1983, is the highest-level private-sector consultative body between the two countries. Tsutsui visited South Korea to attend the 33rd session of the council, held in Seoul on Friday.