Jeju: South Korean and Japanese business lobbies on Monday discussed ways to boost cooperation between the two countries in the artificial intelligence (AI) and semiconductor industries, along with key shared agendas, such as a population crisis. The Korea Chamber of Commerce and Industry (KCCI) and the Japan Chamber of Commerce and Industry held their annual conference on South Korea's southern resort island of Jeju, issuing a joint statement pledging close ties to address common structural challenges.

According to Yonhap News Agency, under the agreement, the two sides vowed to strengthen coordination in maintaining an open global economic system while working to establish stable investment environments and supply chains for the AI, semiconductor, and energy industries.

South Korean and Japanese businesses pledged to seek practical ways of cooperation with the private sector to address population decline, a major issue for both countries, including sharing policy and research experience.

The two business lobbies additionally agreed to expand economic, tourism, and cultural exchanges in line with the rising number of flights between South Korea and Japan, the KCCI added.