Tokyo: The Korea Trade-Investment Promotion Agency (KOTRA) announced it hosted a business partnership event in Tokyo aimed at fostering cooperation between South Korean and Japanese companies in sectors such as artificial intelligence (AI) and other advanced industries.

According to Yonhap News Agency, the event saw participation from 75 Korean companies and 420 Japanese companies, all seeking business opportunities in areas including AI, semiconductors, robotics, and electric power. The AI Frontier Korea in Japan session enabled Korean firms to explore partnerships with major Japanese companies such as Nippon Electric Co., Mizuho Financial Group, and SoftBank Group. Discussions focused on leveraging AI technologies to address demographic challenges and economic security issues like supply chain disruptions faced by both countries.

During the session, Korean firms signed six technology cooperation agreements with Japanese counterparts, aligning with Japan's initiative to expand investment in the AI sector. KOTRA highlighted that Japan's AI infrastructure market is projected to grow significantly, reaching 9.4 trillion won (US$6.3 billion) by 2029, up from 6.2 trillion won the previous year.

In another session, Global Partnership Japan, Korean companies specializing in robotics, machinery, and electric power equipment explored export opportunities to Japan, resulting in three supply contracts valued at a total of $4.1 million. KOTRA President Kang Kyung-sung emphasized the immense potential for expanded cooperation between the two nations, citing Korea's strength in the advanced ICT sector and Japan's expertise in materials, parts, and equipment.