How Are South Korean and Japanese Business Leaders Enhancing Cooperation in AI and Chips?
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Synopsis
In a significant development, South Korean and Japanese business leaders have committed to enhancing collaboration in AI and chip technology. This partnership aims to address social challenges and support South Korea's aspirations for CPTPP membership, promising a brighter future for both nations and the global economy.
Key Takeaways
- Strengthened cooperation in AI and semiconductors between South Korea and Japan.
- Support for South Korea's bid to join the CPTPP.
- Focus on addressing social challenges like low birth rates and aging populations.
- Joint efforts in carbon neutrality and hydrogen energy.
- Positive impact on stock market performance in South Korea.
Seoul, May 28 (NationPress) Leaders from South Korea and Japan convened on Wednesday to strengthen bilateral cooperation in artificial intelligence (AI), semiconductors, and other vital sectors while also backing Seoul's aspirations to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
This agreement was framed within a joint statement made during the 57th South Korea-Japan Business Conference held in Seoul, where approximately 300 business and economic representatives from both nations participated in this annual two-day gathering, as reported by Yonhap news agency.
In light of the 60th anniversary of the normalization of diplomatic relations between Seoul and Tokyo, the statement expressed a commitment to the trust and friendship built over the years, aiming for collaboration that promises a brighter future for South Korea, Japan, and the global community.
The areas identified for cooperation include carbon neutrality, hydrogen energy, the AI and semiconductor industries, as well as the bio and healthcare sectors. They also committed to working together to address pressing social issues, such as declining birth rates and an aging population.
On the matter of South Korea's bid to join the CPTPP, participants agreed to support preliminary actions among relevant organizations to facilitate this process.
The CPTPP is a significant Indo-Pacific trade agreement involving 12 nations, including Japan, Australia, Canada, Britain, and Vietnam, which collectively represented around 15.2 percent of global trade as of 2019.
On the stock market front, South Korean stocks soared to a three-month peak on Wednesday, propelled by gains in technology shares, as a temporary halt on tariffs against the European Union by the United States heightened investor interest in riskier assets. Meanwhile, the local currency depreciated against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose by 32.93 points, or 1.25 percent, closing at 2,670.15, the highest since February 19, when it closed at 2,671.52.
Trading volume was moderate at 403.25 million shares, amounting to 11.16 trillion won (approximately US$8.11 billion), with the number of winners surpassing losers at 579 to 308.
Point of View
It is vital to recognize the significance of this agreement between South Korea and Japan. Strengthening ties in technology and addressing social challenges demonstrates a commitment to mutual growth and cooperation, which is essential in today's interconnected world. This partnership could pave the way for innovative solutions to pressing issues.
NationPress
13/06/2025
Frequently Asked Questions
What sectors will South Korea and Japan cooperate in?
They will collaborate in artificial intelligence, semiconductors, carbon neutrality, hydrogen energy, and healthcare.
What is the CPTPP?
The CPTPP is a major trade pact involving 12 countries, including Japan and South Korea, accounting for about 15.2% of global trade as of 2019.
How did the South Korean stock market perform recently?
The KOSPI increased by 1.25%, reaching a three-month high, driven by tech shares and positive investor sentiment.
What social challenges are being addressed?
The leaders agreed to collaborate on challenges like low birth rates and aging populations.
Why is this partnership significant?
This cooperation not only enhances economic ties but also aims to address social issues, promoting stability and growth.
