BUSAN < invest Korea

According to Yonhap News,

(SEOUL=Yonhap News) Business representatives of South Korea and Japan gathered Tuesday to discuss ways to step up cooperation in emerging technology sectors, such as artificial intelligence (AI) and the Internet of Things (IoT).

Chairmen of the Korea Chamber of Commerce and Industry (KCCI) and the Japan Chamber of Commerce and Industry (JCCI), as well as 30 other regional chamber chiefs of the two nations, held a meeting in Songdo, west of Seoul.

Korean participants include chairman of the Busan Chamber of Commerce & Industry (BCCI), chairman of the Daegu Chamber of Commerce and Industry (DCCI), and entrepreneurs of Korea-based multinational companies.

Chairmen of local chambers of commerce & industry as well as distinguished business leaders came from Japan to attend the meeting.

"As the global trade market remains in the doldrums, emerging economies will provide more opportunities in investment in their infrastructure development," Park Yong-maan, KCCI chief and Doosan Group chairman, said during the meeting. "As the boundary between real life and the digital world is rapidly getting blurred in the wake of AI, IoT and big data, companies need to lift the barriers and step up collaborations."

Akio Mimura, the JCCI head and former Nippon Steel & Sumitomo Metal adviser, said he hopes that the two nations will expand cooperation in various sectors as South Korea hosts the 2018 PyeongChang Winter Olympics and Japan holds the 2020 Tokyo Summer Olympics.

"Sluggish global economic growth is dragging down Korea's economic vitality," Jo Sung-je, chairman of the BCCI said during the meeting. He further added that "Korea and Japan can jointly cope with economic difficulties as strategic partners since two countries share similar industrial and economic structures."

oakchul@yna.co.kr

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