Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry and SK Group, proposed creating an environment where South Korean and Japanese youth can work freely across borders. He suggested that a 'South Korea-Japan economic community' could be a solution to the low birth rate issues facing both countries.
On August 30, the Korea Chamber of Commerce and Industry held the first meeting of the South Korea-Japan Low Birth Rate Response Exchange Committee and a symposium on low birth rate responses at the Westin Hotel in Sendai, Japan, where they released the results of a 'South Korea-Japan Youth Awareness Survey.'
In his opening remarks, Choi stated, "With birth rates in South Korea and Japan halved, demographic changes are not a distant prediction but a reality that businesses and communities are facing now. Both countries have limited time, so we must start with what we can do together to address the low birth rate issue immediately."
The low birth rate poses challenges by reducing a nation's growth potential and increasing social costs, which could significantly diminish the future value of both countries.
Choi identified the lack of stable employment and income as reasons why young people are hesitant to marry and have children. He argued that the business sector must create quality jobs and transform workplaces to support employees in raising children.
He assessed that a South Korea-Japan economic community could create a larger market and help prevent rising social costs. Choi emphasized, "If we enable young people to work back and forth between South Korea and Japan, it will create opportunities for better jobs and higher incomes. There is a need for exchanges between the two countries to extend beyond tourism to local communities."
Finally, Choi added, "We must actively utilize new tools like artificial intelligence (AI) to enhance the value created by each young person."
* This article has been translated by AI.
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