Korea, Japan business leaders float $6 trillion combined economic bloc

  • Korean and Japanese business chambers floated a $6 trillion combined economic bloc.
  • Chey proposed AI-data sharing, passport-free travel pilots and energy stockpile swaps.
  • Talks followed an August finance vice-ministers meeting and a May 2026 summit.

South Korean and Japanese business leaders have outlined their most ambitious economic integration push in years, floating a roughly $6 trillion combined economic bloc aimed at competing in artificial intelligence, semiconductors and critical-mineral supply chains. The concept surfaced at the 15th leaders’ meeting between the Korea Chamber of Commerce and Industry and the Japan Chamber of Commerce and Industry on August 31 in Sendai, Japan. KCCI Chairman Chey Tae-won, who also chairs SK Group, proposed sharing AI data to help set global technology standards, promoting cross-border startup investment and piloting passport-free travel between major airports, alongside easier Gimpo-Haneda immigration using mobile resident IDs. In a joint statement, the chambers committed to stronger cooperation on critical minerals and energy security, including stockpiling arrangements and swap mechanisms for crude oil, petroleum products and liquefied natural gas, and backed green innovation tied to the 2027 International Horticultural Expo in Yokohama. The Sendai talks followed an August 21 meeting of South Korean and Japanese finance vice ministers in Tokyo and build on a May 2026 summit in which President Lee Jae Myung and Prime Minister Sanae Takaichi agreed to deepen energy-security and supply-chain cooperation. The semiconductor angle is central: SK hynix is a major memory-chip maker, while Japan supplies critical chipmaking equipment and is rebuilding domestic capacity. Twenty-eight business leaders attended the Westin Sendai meeting; the 16th gathering is set for Incheon next year.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.