Chief Coordinator & Representative of the Federation of Middle Market Enterprises of Korea (FOMEK) Choi Jin-shik, fifth from left, poses with Japanese Ambassador to Korea Koichi Mizushima, fourth from left, along with other business and embassy officials at the Japanese Ambassador's residence in Seoul, Tuesday. Courtesy of FOMEK

Chief Coordinator & Representative of the Federation of Middle Market Enterprises of Korea (FOMEK) Choi Jin-shik met with the Japanese Ambassador to Korea Koichi Mizushima on Tuesday to discuss initiatives aimed at revitalizing economic exchanges between small and medium-sized enterprises (SMEs) in both countries.

"Strategic cooperation that combines the technological prowess and expertise of Korean and Japanese SMEs will be the starting point for both countries to effectively respond to the rapidly changing market environment, such as the reorganization of the global supply chain," Choi said.

"As we mark the 60th anniversary of the normalization of diplomatic relations between Korea and Japan next year, we will do our utmost to establish a differentiated and practical cooperation system led by SMEs from both countries."

According to FOMEK, the dinner meeting took place at the Japanese ambassador's residence and was attended by several prominent business leaders.

During the discussions, the SME representatives highlighted the global technological competitiveness of Korean SMEs across various sectors, including traditional manufacturing, parts and materials, semiconductors and information and communication technology.

They emphasized the importance of fostering bilateral exchanges to support the mutual economic development of Korea and Japan.

One SME representative pointed out the challenges foreign companies face in Japan.

"Even when establishing a sales corporation in Japan to supply products under favorable conditions, it is challenging to penetrate the solid existing business networks of Japanese companies," they said. "We face difficulties meeting bidding conditions as a foreign company, but we hope the Japanese government and local authorities will expand project participation opportunities to facilitate smoother local entry and collaboration."