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| Korea, Japan advance distribution partnership |
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KOIMA |
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Minister of Knowledge Economy Choi Kyunghwan embarked on a four-day trip to Japan to attend the ninth APEC Energy Ministers? Meeting on June 19 in Hukui Prefecture. On his first day in Japan, Minister Choi visited the Ministry of Economy, Trade and Industry to meet with his Japanese counterpart, Minister Masayuki Naoshima.
During a private meeting, the two Ministers acknowledged the need for a high-level committee to facilitate industrial and resources cooperation?in particular, in the highly promising parts and materials sector. In that regard, Minister Choi requested the Japanese Minister?s active interest in Korea?s new industrial complexes, which when built will be dedicated exclusively to the parts and materials sector. They also agreed to pursue joint research and development to advance the level of green energy technology, a future growth engine for both countries.
A groundbreaking MOU signed on the second day of Minister Choi?s trip will enhance cooperation between the distribution industries in the two countries. Under the terms of the MOU, Korea and Japan will engage in various joint projects including research, surveys, information sharing, and exchanges of skilled personnel. The focus of the industrial partnership is set to shift from a business-to-business model to one that allows businesses to reach consumers directly. As a result, Korean companies will enjoy greater access to the Japanese market through sales of finished products in addition to raw materials.
* Government press release (June 22)
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