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(LEAD) Yonhap forum explores ways to deepen S. Korea-Japan economic ties amid global fragmentation

SEOUL, Nov. 3 (Yonhap) -- Yonhap News Agency, South Korea's key newswire, hosted...

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Yonhap News Agency President and Chief Executive Officer (CEO) Hwang Dae-il speaks at the third Future Economic Forum in Seoul on Nov. 3, 2026. (Yonhap)
Yonhap News Agency President and Chief Executive Officer (CEO) Hwang Dae-il speaks at the third Future Economic Forum in Seoul on Nov. 3, 2026. (Yonhap)

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(ATTN: RECASTS headline, lead as forum begins; UPDATES throughout; CHANGES photos) By Oh Seok-min

SEOUL, Nov. 3 (Yonhap) -- Yonhap News Agency, South Korea's key newswire, hosted a forum Tuesday to explore ways to forge closer economic links between Seoul and Tokyo as mounting global fragmentation reshapes the world economy.

Under the theme "A fragmenting global economy, bridging the Korean and Japanese markets," the third annual Future Economic Forum took place in Seoul, bringing together around 500 participants from the two countries, including political, business and academic leaders, according to Yonhap News Agency.

Yonhap News Agency President and Chief Executive Officer (CEO) Hwang Dae-il speaks at the third Future Economic Forum in Seoul on Nov. 3, 2026. (Yonhap)

Yonhap News Agency President and Chief Executive Officer (CEO) Hwang Dae-il stressed the need for the two nations to join forces to become "a central pillar of a regional economic bloc" amid growing challenges at home and abroad.

"At a time when the external environment is rapidly changing amid the erosion of the multilateral trading system, the formation of regional blocs and rising protectionism, solidarity and cooperation between South Korea and Japan are essential strategies for survival," Hwang said in his congratulatory remarks.

"Beyond simple trade, we must forge a future in which our economies function as one seamless economic ecosystem," he said, adding that Yonhap will continue to provide diverse and substantive coverage to deepen trust between the two sides and help advance institutionalized economic cooperation.

President Lee Jae Myung stressed the importance of expanding cooperation between Seoul and Tokyo, calling it a "task of our time."

"In this era of epochal transformation, deepening cooperation and broadening its scope between the two countries is no longer something that can be put off but a task of our time," Lee said in a congratulatory message, read by Seong Ghi-hong, senior presidential secretary for public communication.

Noting his government's efforts to expand cooperation with Japan in advanced technologies, Lee also highlighted joint efforts to address shared challenges, such as low birth rates, aging and regional disparities.

SK Group Chairman Chey Tae-won, who also heads the Korea Chamber of Commerce and Industry, said closer economic cooperation between Seoul and Tokyo could generate more than US$1 trillion in synergies, calling for bipartisan political support and a shared framework to advance bilateral ties.

Chey also stressed the need for the two countries to address common structural challenges, including population aging, low birth rates and rising healthcare costs.

Japanese Ambassador to South Korea Koichi Mizushima called for closer economic cooperation between the two nations to build resilience amid global economic uncertainty, stressing that bilateral cooperation would benefit both countries and contribute to regional and global stability and prosperity.

SK Group Chairman Chey Tae-won, chief of the Korea Chamber of Commerce and Industry, speaks at the third Future Economic Forum in Seoul on Nov. 3, 2026. (Yonhap)

A number of political and business figures from both countries also delivered congratulatory remarks, including Rep. Joo Ho-young, chairman of the South Korea-Japan Parliamentarians' Union; Japanese Rep. Ryota Takeda, chairman of the Japan-Korea Parliamentarians' Union; Rep. Lee Jae-jung, chair of the National Assembly's culture, sports and tourism committee; and Koo Ja-yeol, chairman of the Korea-Japan Economic Association.

Other key participants included Shinhan Financial Group Chairman Jin Ok-dong, Hana Financial Group Chairman Ham Young-joo, Woori Financial Group Chairman Yim Jong-yong and NH NongHyup Financial Group Chairman Lee Chan-woo, as well as senior officials from major economic organizations, including the Korea International Trade Association, and a delegation from Japan's Kyodo News, a sponsor of the forum.

Yonhap News Agency President and CEO Hwang Dae-il (11th from R) and other attendees pose for a photo at the 2026 Future Economic Forum in Seoul on Nov. 3, 2026. (Yonhap)

The forum will feature three sessions.

The first session, titled "From rivals to partners: South Korea and Japan amid U.S.-China hegemony," will include presentations by Yoon Young-kwan, a former South Korean foreign minister and chairman of the Asan Institute for Policy Studies, on the need for closer strategic ties between the two countries. Lee Sang-yup, chief technology officer (CTO) of South Korean mobile carrier LG Uplus, will discuss opportunities for bilateral cooperation in emerging technologies.

The second session, focusing on a South Korea-Japan economic community, will feature Lee Se-young of Wrtn Technologies and Hiroaki Ishiguro of Lotte Holdings, who will share their experiences in expanding into Japan and promoting cooperation in Asian markets. Japan expert Yang Gi-ho will discuss the future of bilateral relations and strategic solidarity.

In the final session, Japan's Seigakuin University professor Ikumi Haruki will address the two countries' shared challenges of population aging, while renowned South Korean popera tenor Lim Hyung-joo will share his decadeslong experience in Japan and discuss new opportunities for cultural and content industry cooperation, Yonhap said.

The forum comes amid renewed efforts by South Korea and Japan to expand economic cooperation as the two neighbors seek to strengthen ties through regular high-level exchanges and closer coordination on shared challenges.

In March, the two countries signed a supply chain partnership arrangement and agreed to establish a regular policy dialogue on trade, economic security and supply chain issues.

At a summit in May, President Lee and Japanese Prime Minister Sanae Takaichi agreed to further strengthen bilateral cooperation on supply chains, as well as energy security, including through closer cooperation on critical minerals, crude oil and liquefied natural gas (LNG).

graceoh@yna.co.kr (END)

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