Korea Enterprises Federation (KEF) Chairman Sohn Kyung-shik, right, holds a meeting with Japanese Ambassador to Korea Koichi Aiboshi to ask for support to host the 2030 World Expo in Busan and enhance economic cooperation between the two countries at the Westin Chosun Hotel in Seoul, Wednesday. Courtesy of KEF

By Kim Hyun-bin

Sohn Kyung-sik, chairman of the Korea Enterprises Federation (KEF), requested the Japanese government's support for the southern port city of Busan to host the 2030 World Expo in Busan, during a meeting with Japanese Ambassador to Korea Koichi Aiboshi at the Westin Chosun Hotel in Seoul, Wednesday.

"Competition to secure advanced technology and reorganize the semiconductor supply chain is fierce, and international discussions and legislation aimed at energy conversion and carbon neutrality are accelerating," Sohn said. "Korean and Japanese companies with technological prowess should cooperate more," he added.

"The selection of Busan, which is close to Japan, to host the 2030 Expo can bring positive economic effects to both countries, such as an increase in tourism linked to Korea and Japan."

The chairman pointed out that inflation and the spread of protectionism are heightening international supply chain risks, and peace and prosperity in Northeast Asia are threatened by the Russia-Ukraine war and North Korea's missile launches.

Sohn emphasized that there needs to be a resolution of pending issues between the two countries through dialogue, saying, "We are looking for a reasonable solution to the issue of the past through mutual dialogue, and we hope that export restrictions will be resolved as soon as possible, opening a new era of economic cooperation between Korea and Japan."

He was referring to Japan's imposition of curbs on exports to Korea of key semiconductor materials, in retaliation against the Korean Supreme Court's decision in 2018 ordering Japanese companies complicit in war crimes during World War II to compensate Korean victims.

Regarding this, Aiboshi said, "The number of Koreans who visited Japan in October increased four times compared to September, and the number of Japanese who visited Korea also increased three times since August. I hope that cooperation in various business fields will lead to improved Korea-Japan relations."

Meanwhile, the KEF has been hosting a meeting with the Japanese ambassador to Korea since 2020 to strengthen economic cooperation between the two countries.