Chairman Cho Seok-rae Delivered Opening Address at Korea-Japan Economic Association Held by Osaka City, Japan

Chairman Cho said, “China is likely to pursue a low-level free trade agreement (FTA) at the Korea-China-Japan FTA for which negotiations are expected to start this year by excluding sensitive items or delaying the speed of liberalization, and thus Korea and Japan should take the initiative to form a successful unified mega market in Asia through ratification of a high-level FTA between the two countries. He stated the reason that, “Facing the global financial crisis, it became no longer possible for Asian countries to sustain the growth model achieved through exports to Europe and the United States. And, it is time for Asia to play a key role in global economic growth by increasing regional education and developing domestic demand.”