SK Group Chairman Chey Tae-won renewed his call for a stronger economic alliance between South Korea and Japan, arguing that closer cooperation is essential for both countries to navigate mounting geopolitical and economic challenges.
Speaking at a special Korea-Japan session of the Nikkei Forum in Tokyo on Monday, Chey said bilateral cooperation should evolve beyond short-term exchanges and become a foundation for a sustainable partnership capable of addressing shared challenges.
“Korea-Japan cooperation is not a one-time event,” said Chey, who also serves as chairman of the Chey Institute for Advanced Studies. “It is a path toward building a sustainable and action-oriented community based on deep mutual trust.”
The session, held at the Imperial Hotel in Tokyo, was organized by Japanese business daily Nikkei in collaboration with SK Group and the Chey Institute. More than 300 political and business leaders from both countries attended the event under the theme of strengthening economic cooperation to support a resilient bilateral relationship.
Former Japanese Prime Minister Fumio Kishida and former South Korean National Assembly Speaker Kim Jin-pyo delivered keynote speeches highlighting the importance of closer ties between the two neighboring countries.
Kishida emphasized the need to expand cooperation in supply chains, energy and artificial intelligence, while also addressing common social challenges such as aging populations and demographic decline. Kim stressed that South Korea and Japan, as nations sharing democratic values and market-based economic systems, should work together more closely amid growing global uncertainty.
South Korean Prime Minister Kim Min-seok also delivered a video message, pledging government support for initiatives that produce tangible benefits for citizens of both countries.
During a panel discussion, Chey joined Masakazu Tokura, honorary adviser to Sumitomo Chemical and former chairman of Keidanren, and Masahiko Kato, president and CEO of Mizuho Bank, to discuss the future direction of Korea-Japan cooperation.
Chey argued that the rationale behind the Korea-Japan economic alliance he first proposed in 2024 has become even stronger. He cited structural economic slowdown caused by declining birth rates and aging populations, rising protectionism that threatens decades of free trade, and increasing energy insecurity driven by geopolitical tensions and surging electricity demand from AI technologies.
According to Chey, a closer economic partnership would enable both countries to play a greater role in shaping emerging global rules rather than simply adapting to them.
He identified energy, artificial intelligence and demographic challenges as three priority areas for cooperation.
In the energy sector, Chey proposed joint development of energy resources outside the Middle East, collaborative research on advanced materials and next-generation batteries, and expanded cooperation in future energy technologies such as small modular reactors (SMRs).
On artificial intelligence, he stressed the importance of achieving greater scale and bargaining power amid intensifying technological competition between the United States and China.
“By sharing data, jointly developing infrastructure and establishing common standards, Korea and Japan can strengthen their technological competitiveness while reducing dependence on any single country,” he said.
Chey also highlighted the launch of the Korea-Japan Committee on Low Birth Rates earlier this year, calling for greater private-sector collaboration to develop practical solutions in childcare, workplace culture and labor market reform.
To ensure continuity in bilateral cooperation, Chey proposed creating a permanent “Big Tent” platform bringing together governments, businesses, academia and younger generations from both countries. The platform would serve as a mechanism for coordinating cooperation agendas and addressing regulatory or institutional barriers before they become obstacles.
“By creating a standing platform where stakeholders can discuss challenges and opportunities together, we can build a more stable foundation for long-term cooperation,” he said.
Japanese participants expressed support for the initiative. Tokura emphasized the need for joint development of next-generation nuclear technologies, including SMRs, while Kato pointed to opportunities for collaboration in AI data centers, semiconductors and liquefied natural gas (LNG) projects.
The forum also featured discussions on AI cooperation. Toshiki Kawai, chief executive officer of Tokyo Electron, underscored the importance of Korea-Japan collaboration for shared economic prosperity, while Hyuk Yoo, Seoul representative of Nomura Research Institute, proposed the creation of a jointly led “AI Economic Cluster” spanning both countries.
In a separate panel session, SK AX CEO Kim Wanjong and NTT Executive Vice President Tadao Yanase shared their companies’ experiences in AI transformation and explored opportunities for cooperation in AI data centers and manufacturing AI technologies.
Park Sang-kyu, president of SK Group’s Japan operations, said the forum demonstrated growing recognition that deeper economic cooperation is becoming increasingly important for both countries.
“As Korea and Japan face common challenges in AI, energy and demographics, we will continue working to transform the vision of a Korea-Japan economic alliance into practical cooperation that benefits future generations,” Park said.
