Gyeongju: Chey Tae-won, chairman of SK Group and head of the Korea Chamber of Commerce and Industry (KCCI), proposed a strategic data-sharing alliance with Japan to enhance artificial intelligence (AI) capabilities and rejuvenate South Korea's manufacturing sector during a KCCI-hosted forum in Gyeongju, approximately 330 kilometers southeast of Seoul.

According to Yonhap News Agency, Chey emphasized the importance of this collaboration, stating that South Korea's relatively limited manufacturing scale and data necessitate cross-border cooperation. He suggested that merging Japan's data with South Korea's could provide a competitive advantage. Chey pointed out that South Korea faces challenges that it cannot overcome alone, especially in light of escalating risks from China in industries where South Korea has traditionally excelled.

"Petrochemicals are just one example, but we are now seeing rapid advances by Chinese companies in semiconductors, where we have long been competitive," Chey stated. He cautioned against assuming that past successes would ensure future performance and highlighted AI's potential role in revitalizing the manufacturing sector.

He urged for immediate action, noting that while China's AI adoption is advancing rapidly, it is still an opportune moment for South Korea to bridge the gap. Chey advocated for attracting foreign AI talent to counteract the outflow of domestic experts and even proposed establishing an English-speaking region to accommodate global professionals.

Chey remarked, "The biggest reason South Korea is struggling to grow is the brain drain. We must bring talent back to revive the economy and boost domestic demand."