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Business leaders from both nations proposed sweeping integration covering semiconductors, critical minerals, and AI data sharing at their 15th joint meeting in Sendai.
South Korea and Japan are making their most ambitious push in years toward economic integration, with business leaders from both countries floating the idea of a $6 trillion combined economic bloc designed to compete on AI, semiconductors, and critical mineral supply chains.
The proposal emerged from the 15th leaders’ meeting between the Korea Chamber of Commerce and Industry (KCCI) and the Japan Chamber of Commerce and Industry (JCCI), held on August 31 in Sendai, Japan.
What’s on the table #
KCCI Chairman Chey Tae-won laid out a vision that goes well beyond polite diplomatic handshakes. His proposals included sharing AI data between the two countries to help set global technology standards, promoting cross-border startup investments, and even piloting passport-free travel between major airports.
In a joint statement, both chambers committed to strengthening cooperation on critical minerals and energy security. The plans specifically call for stockpiling arrangements and swap mechanisms for essential resources like crude oil and liquefied natural gas.
A busy month of bilateral meetings #
The Sendai meeting didn’t happen in isolation. On August 21, South Korean and Japanese finance vice ministers met in Tokyo to discuss broader economic exchanges. That meeting helped lay the groundwork for the more headline-grabbing chamber of commerce summit ten days later.
Both of these August meetings build on momentum from a May 2026 summit where President Lee Jae Myung and Prime Minister Sanae Takaichi agreed to enhance cooperation on energy security and supply chain resilience.
The semiconductor angle is particularly significant. SK hynix, part of SK Group (which Chey Tae-won chairs), is one of the world’s largest memory chip manufacturers. Japan, meanwhile, is home to critical chipmaking equipment suppliers and has been investing heavily in rebuilding its domestic semiconductor capacity.
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