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BackChey Tae-won Proposes Korea-Japan Economic Bloc Worth $6 Trillion
Chey Tae-won Proposes Korea-Japan Economic Bloc Worth $6 Trillion
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SCMP Economy18 minutes agoBusiness1 min readChina

Chey Tae-won Proposes Korea-Japan Economic Bloc Worth $6 Trillion

korea-japan economic integrationchey tae-wonsk group

Quick Look

SK Group chairman Chey Tae-won proposed a Korea-Japan economic community potentially worth $6 trillion annually, citing fragmented global trade and superpower rivalry, with academic support noting parallels to Franco-German reconciliation that founded the EU.

AI-generated summary

Why It Matters

Global trade order is fragmenting due to tit-for-tat tariffs, supply-chain disruptions from Middle East and Ukraine conflicts, and growing superpower rivalry, prompting calls for regional economic blocs.

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The two countries could draw closer as the era of relatively open global trade gives way to tit-for-tat tariffs and supply-chain disruptions due to conflicts in the Middle East and Ukraine.

SK Group chairman and Korea Chamber of Commerce and Industry chairman Chey Tae-won has in recent weeks proposed building a shared economic community between South Korea and Japan.

In an interview with Japan’s Asahi newspaper published this week, Chey said connecting the two countries more closely could create an economic bloc valued at US$6 trillion annually, ranking fourth globally after the United States, the European Union and China.

Lee Won-deog, a professor at the Institute of Japanese Studies at Kookmin University, called Chey’s proposal “bold” and said: “Korea-Japan economic integration is the spirit of the time as the global trade order fragments, superpower rivalry grows and regional blocs strengthen.”

Japan and South Korea could learn from France and Germany, whose post-war reconciliation began with cooperation in industries such as energy and steel and helped lay the foundations for the European Union, he added.

What to Watch

AI outlook — possibilities, not facts

  • Formal discussions on Korea-Japan economic cooperation will begin within 6 months

    Likely · Within months

  • Initial focus will be on supply chain resilience in semiconductors and batteries

    Possible · Within months

Open Questions

  • What specific mechanisms would enable Korea-Japan economic integration?
  • How would domestic political opposition in both countries be addressed?
  • What role would the United States play in response to a strengthened Korea-Japan alliance?

Related Topics

korea-japan economic integration
PeopleChey Tae-wonLee Won-deog
OrganizationsSK GroupKorea Chamber of Commerce and IndustryKookmin UniversityAsahi newspaper
PlacesSouth KoreaJapanEuropean UnionUnited States
Topicschey tae-wonsk groupglobal trade fragmentationus$6 trillion blocfrance germany reconciliationkookmin university
This article was originally published by SCMP Economy.

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