Chey drives new Korea–Japan economic partnership

Dec 09, 2025, 09:53 am

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SK Group Chairman Chey Tae-won, who also heads the Korea Chamber of Commerce and Industry, has emerged as a central figure in deepening the new era of Korea–Japan economic cooperation. / Source: Yonhap News

South Korea and Japan are entering a new phase of economic alignment, with Chey Tae-won—chairman of the Korea Chamber of Commerce and Industry—taking a leading role in steering discussions on cross-border cooperation and coexistence. Unlike past years, when exchanges focused largely on trade, today’s agenda centers on building strategic solidarity across future industries. Chey has emerged as a pivotal player in this evolving landscape of private-sector economic diplomacy.

A joint survival strategy for semiconductors, AI, and energy

According to industry officials on December 8, recent talks between the two countries’ business communities have zeroed in on advanced technologies and energy security. With global supply chains under mounting strain, cooperation has become increasingly vital in semiconductor materials and equipment, secondary batteries, AI infrastructure, hydrogen, and nuclear power.

Chey’s suggestion that the two countries explore joint procurement of LNG falls within this context.

Speaking with reporters after the event, he said, “Energy types and purchase schedules vary, so the idea is to discuss where and how much we can buy. We should identify the synergies—whether it leads to lower prices or more secure supply.”

He added that progress in Korea–Japan cooperation often requires broad consensus in Japan, noting, “Because many people need to agree before anything moves forward, it can be hard to find someone to take the lead. That’s why we need to speak up more proactively.”

In a joint statement, the two chambers pledged to work closely to address shared structural challenges, outlining cooperation in AI, semiconductors, and energy, joint responses to demographic decline and aging, and expanded cultural exchange.

Chey’s rise as a key player in Korea–Japan economic diplomacy

Chey and the KCCI have served as a first mover in restoring bilateral economic dialogue. Economic cooperation between the two countries had sharply deteriorated following Korea’s 2018 forced-labor ruling and Japan’s export controls in 2019. Trade and investment slowed, and companies faced disruptions in key materials supply chains.

But external shifts—from intensifying U.S.–China technology rivalry to resurgent protectionism—highlighted the need for the two economies to respond jointly. In this changing landscape, Chey naturally became a central connector in rekindling Korea–Japan economic cooperation.

The Korea–Japan chambers’ presidents’ meeting, effectively halted by trade tensions and the COVID-19 pandemic, resumed in 2023 after a six-year hiatus, reopening the official private-sector channel. The two sides signaled normalization through a joint statement emphasizing cooperation for the Osaka–Kansai Expo 2025, supply-chain stabilization, and regional exchange.

Since then, annual meetings have continued, alongside growing consensus on institutionalizing a “shuttle economic diplomacy” mechanism to protect cooperation from political shifts or diplomatic disputes.

At last year’s meeting in Osaka, Chey proposed that the two countries use the 60th anniversary of normalized diplomatic ties as an opportunity to recalibrate past cooperation and jointly design the next century. In May, he met then-Prime Minister Shigeru Ishiba to stress the urgency of joint responses to protectionist pressures, broadening the scope of private-sector economic diplomacy.

#Korea–Japan economic cooperation #Chey Tae-won #advanced technology partnership #energy security #private-sector diplomacy