June 26, 2024


WASHINGTON, D.C. - Today, the U.S. Chamber of Commerce and its counterpart organizations Keidanren and the Federation of Korean Industries signed an historic agreement to deepen private sector collaboration as part of the U.S.-Japan-Republic of Korea Business Dialogue, held on the margins of the Trilateral Commerce and Industry Ministerial Meeting. The event also convened leaders in business and government including U.S. Deputy Secretary of Commerce Don Graves, Japan’s Minister of Economy, Trade and Industry Saito Ken, and Korea’s Minister of Trade, Industry and Energy Ahn Dukgeun.  

This groundbreaking business engagement – held at the U.S. Chamber of Commerce’s historic headquarters – echoes the commitment to increased cooperation made by the leaders of the three countries at the 2023 Camp David Summit. Today’s event featured the launch of a private sector platform to support implementation of the leaders’ vision of trilateral cooperation in economy and technology, consistent with the business priorities of the United States, Japan, and Korea.   

During the private sector roundtable, business executives discussed the importance of trilateral economic cooperation and ways to deepen collaboration in critical areas like technology and energy. Reifying these efforts, the three organizations signed a memorandum of understanding (MOU) outlining an actionable foundation for increased trilateral cooperation between the three business communities.   

“The U.S. Chamber looks forward to working with Keidanren and FKI to implement provisions of this important MOU,” said Charles Freeman, Senior Vice President for Asia at the U.S. Chamber. “These activities will institutionalize trilateral private sector dialogue, ensuring the private sector has a voice in trilateral policy decisions.”  

The MOU will formalize a structure for ongoing collaboration and information sharing between the three business associations. The platform will encompass high-level exchange and joint advocacy supportive of policies promoting market-based, open economic competition; supporting closer, mutually beneficial economic integration; and emphasizing collaborative solutions to technology challenges.  

“In the midst of this highly unstable global situation, trilateral cooperation between Japan, the U.S. and Korea is of paramount importance. Keidanren looks forward to deepening our collaborative relationship with the U.S. Chamber of Commerce and FKI through the newly established trilateral business framework,” said Ichiro Hara, Managing Director of Keidanren.   

"The three business communities believe that as trilateral industrial and economic cooperation has been formalized in writing through the trilateral summit in 2023, this will pave the way for more stable trilateral economic cooperation going forward," said Chang-beom Kim, Vice Chairman and CEO of the Federation of Korean Industries. "We are committed to working closely with the three governments to achieve our common goals,” he added.