On December 8, Yonhap News Agency reported that on Monday, two prominent business conglomerates from South Korea and Japan engaged in discussions centered on bolstering cooperation between the two nations in pivotal sectors like artificial intelligence (AI) and semiconductor industries, as well as tackling the demographic crisis. The Federation of Korean Industries and the Japan Chamber of Commerce and Industry convened their annual summit on Jeju Island, South Korea, with the aim of exploring avenues to sustain bilateral exchanges.

Choi Tae-won, the Chairman of SK Group who also holds the position of Chairman at the Federation of Korean Industries, remarked that with the revival of shuttle diplomacy between South Korea and Japan, leaders from both countries have held five meetings, reaffirming Seoul and Tokyo's status as vital collaborative partners. Choi further highlighted that externally, they must navigate the global business landscape and the fierce competition in advanced technologies, while internally, they grapple with challenges such as low birth rates, an aging populace, and regional economic downturns.