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Majority of Export Firms Say Economic Cooperation with Japan Necessary

Written: 2021-11-29 15:02:46Updated: 2021-11-29 15:22:05

Majority of Export Firms Say Economic Cooperation with Japan Necessary

Photo : YONHAP News

A survey has found that most local exporters acknowledge the importance of economic cooperation with Japan but are doubtful of relations actually improving. 

According to the Korea Chamber of Commerce and Industry(KCCI) on Monday, 92-point-six percent of 202 export firms surveyed last month said economic cooperation with Japan is necessary. Just over seven percent said they don't feel the need.

On whether bilateral relations would improve, 80-point-seven percent of those surveyed said current difficulties will likely continue, while six-point-four percent foresaw a deterioration. Just under 13 percent said relations will gradually get better.

As for the biggest obstacle to bilateral cooperation, most picked historical issues at 42 percent, followed by the pandemic and adverse external conditions at nearly 13 percent. Others cited trade friction and a growing sense of rivalry between the two countries at 10-point-four percent.

A KCCI official stressed the need to restore a foundation of cooperation and communication, starting with the private sector, as South Korean and Japanese firms face challenges in global supply chain changes in addition to COVID-19 and diplomatic conflict.

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