Japan and South Korea Unite for Climate Change Solutions in Business

24 Jan, 2024

Japan and South Korea Unite for Climate Change Solutions in Business

Japanese and South Korean business leaders, in a joint statement, pledged to enhance collaboration to address shared challenges, including climate change and declining populations. The major business associations of both nations emphasized the critical need to expedite decarbonization efforts while balancing economic growth and ensuring stable energy supplies.

This commitment to environmental sustainability comes against the backdrop of bilateral tensions, notably related to court decisions requiring Japanese companies, including Mitsubishi Heavy Industries Ltd., to compensate South Koreans for wartime labor. Despite these challenges, the business lobbies underscored the importance of fostering stronger ties between companies in Japan and South Korea for peace and prosperity in East Asia.

During the Tokyo meeting, Masakazu Tokura, head of the Japan Business Federation (Keidanren), expressed optimism, stating, "We hope our candid exchange of opinions leads to stronger ties between companies in both countries, and peace and prosperity in East Asia." Jin Roy Ryu, chairman of the Federation of Korean Industries, emphasized the need for steady economic cooperation.

The joint conference marked the 30th meeting since its establishment in 1983, reflecting a longstanding commitment to fostering collaboration and dialogue between Japanese and South Korean business entities.