Chey Tae-won calls for permanent Korea-Japan economic partnership platform

SK Group chairman attends Nikkei Forum's inaugural Korea-Japan special session in Tokyo, pitching energy, AI and low birth rate as three pillars of bilateral cooperation

Chey Tae-won, chairman of SK Group and president of the Chey Institute for Advanced Studies, presents his vision for a Korea-Japan economic partnership at the Nikkei Forum's Korea-Japan Special Session held at the Imperial Hotel Tokyo on Tuesday. [SK Group]

SK Group Chairman Chey Tae-won said a Korea-Japan economic partnership is essential for the survival of both countries amid a rapidly shifting global order, proposing the creation of a permanent "big tent" cooperation platform insulated from external disruptions.

Chey made the remarks Tuesday at the Nikkei Forum's Korea-Japan Special Session held at the Imperial Hotel Tokyo. The event, organized by Nikkei and co-planned by SK Corp and the Chey Institute for Advanced Studies, drew more than 300 business and government figures from both countries under the theme "Multilateral economic cooperation underpinning a robust Korea-Japan relationship." It marked the first time a Korea-Japan special session has been held at the Nikkei Forum.

Speaking in a dialogue titled "Korea and Japan's direction amid a more complex international landscape," Chey said the case for a Korea-Japan economic partnership — which he first proposed in 2024 — has grown stronger since then. He cited slow growth driven by low birth rates and aging populations, threats to the free-trade order, and surging electricity demand and supply chain instability stemming from the spread of AI.

He said the partnership would give the two countries "a foothold to leap forward as rule makers shaping a new international order," and named energy, AI and the response to low birth rates as three concrete areas for cooperation. On energy, he proposed that the two countries jointly develop energy sources outside the Middle East, conduct joint research on advanced materials and alternative batteries, and enter future energy sectors such as small modular reactors together to help set international standards.

On AI, Chey said Korea and Japan need to secure economies of scale and negotiating leverage against the technological dominance of the United States and China. He added that data sharing, joint infrastructure development and regulatory standardization could help the two countries build independent competitiveness and reduce dependence on any single nation. He also highlighted the Korea-Japan Low Birth Rate Committee, launched in April, calling on both sides to "jointly research childcare environments, corporate culture and labor market structures at the private-sector level and quickly build practical models."

Chey Tae-won, chairman of SK Group and president of the Chey Institute for Advanced Studies (third from left), Kato Masahiko, president of Mizuho Bank (second from left), and Tokura Masakazu, adviser at Sumitomo Chemical (right), exchange views on the importance of a Korea-Japan economic partnership in addressing energy, AI and low birth rate challenges at the Nikkei Forum's Korea-Japan Special Session at the Imperial Hotel Tokyo on Tuesday. [SK Group]

Chey closed by urging the two governments to build a permanent platform consolidating cooperation agendas spanning business, academia and youth, where obstacles to collaboration could be addressed proactively. He proposed a big-tent standing platform that would shield Korea-Japan cooperation from external factors such as regulatory and standards gaps and short-term political uncertainty, allowing both governments to keep bilateral agendas on track.

Tokura Masakazu, adviser at Sumitomo Chemical and former chairman of Keidanren, the Japan Business Federation, responded positively, saying the two countries should cooperate on developing next-generation advanced nuclear reactors to address their shared challenge of energy self-sufficiency. Kato Masahiko, president of Mizuho Bank, also backed the proposal, citing cooperation between Korean and Japanese companies in AI data centers, semiconductors and liquefied natural gas as examples, and calling on both sides to "advance practical cooperation and give concrete shape to the Korea-Japan economic partnership."

Kawai Toshiki, CEO of Tokyo Electron, also stressed the importance of shared economic prosperity through Korea-Japan solidarity, while Yoo Hyuk, Seoul representative of Nomura Research Institute, proposed an "AI economic zone cluster" jointly led by the two countries as a bilateral cooperation agenda.

Former Japanese Prime Minister Kishida Fumio and former National Assembly Speaker Kim Jin-pyo, who both delivered keynote addresses earlier in the day, also spoke in unison about the importance of Korea-Japan friendship and cooperation. Prime Minister Kim Min-seok conveyed his support in a video message, saying the government "will do its utmost to achieve results that both nations' people can feel firsthand."

Park Sang-gyu, SK Group's president for Japan operations, said a growing consensus has emerged that a Korea-Japan economic partnership is the path both countries must take to survive in a rapidly changing world. "We will pool our wisdom to give concrete shape to a Korea-Japan economic partnership that allows the next generation of both countries to coexist and prosper," he said, marking the occasion of the first Korea-Japan special session.

keg@heraldcorp.com