Japan, South Korea float idea of stronger ties through startups

Last Updated on November 19, 2023 1:30 pm

THE historic warming of ties between South Korea and Japan took a new turn when the leaders of the two countries stood together and told a US audience they were looking at ways to strengthen their economic bonds.

Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk-yeol told a group of entrepreneurs at Stanford University on Friday (Nov 17) that they were looking at methods to benefit startups in both countries, with Yoon saying if they join forces the two should be able to create solutions that address global issues.

“Imagine startups from two neighbouring countries, Japan and South Korea, getting together for engaging in friendly competition with each other and creating new partnerships,” Kishida told the entrepreneurs, ahead of a panel discussion with Yoon.

Yoon said that “in the past, when governments supported a company, the nationality of the founders really mattered”. He added that he wants to support startups at home with the understanding that it would open opportunities for everyone around the world.

Yoon and Kishida met on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco a day earlier, for their seventh formal meeting this year. The two have resumed shuttle diplomacy frozen by political rancor and conducted joint military drills with the US to bolster their missile defences and hunt for submarines.

At the main panel on Friday moderated by former US secretary of state Condoleezza Rice, both leaders stressed the need to cooperate on climate change solutions and quantum computing.