1. The 3rd ROK-Japan Director-General-level Economic and Trade Consultation was held in 
Seoul on June 16. The Korean delegation was headed by Director-General for Bilateral Trade, 
Ahn Chong-gee with relevant officials participating from the Ministry of Land, Transport and 
Maritime Affairs, the Ministry of Knowledge and Economy, the Ministry for Food, Agriculture, 
Forestry and Fisheries and the Korea Customs Service. The Japanese delegation was headed 
by Consul General Suzuki Yoichi with relevant officials participating from the Ministry of 
Economy, Trade and Industry, the Ministry of Agriculture, Forestry and Fisheries, the Ministry 
of Finance and the Ministry of Land, Infrastructure, Transport and Tourism.

2. The two sides shared the view that in order to enhance economic and trade relations, 
efforts to expand bilateral trade volume especially in the areas with severe trade imbalances 
between two countries should be made. To this end, the two sides decided to △ hold the 
2nd components and materials supply exhibition between Korea and Japan on the occasion 
of the Korea-Japan Industrial Technology Fair in September for continued cooperation and 
△ cooperate in events such as the Korea-Japan SME CEO Forum to strengthen cooperation 
between the small- and medium-sized enterprises.

  O The Korean side updated information on the construction of industrial complexes for 
     components and materials, and requested for the cooperation from the Japanese side 
     in this regard

3. Both sides agreed to make efforts to set up supportive environment for the Korea-Japan 
FTA, based on the outcome of the Korea-Japan Summit that was held on May 29. 

4. Both sides further shared the view to actively improve the business environment in order 
to expand bilateral trade, and discussed matters of mutual interest such as non-tariff measures. 

  O The Korean side raised the issues of △ expanding mutually approved national technology 
     licenses such as car mechanics, △ allowing Korean vehicles for live-fish   to be driven in 
     Japan, △ guaranteeing ship companies’ rights to decide the terminal at Japan’s port for 
     Korean ships, △ simplifying the current IQ system on seaweed △ improving conditions 
     for greater access to the government procurement market. The Korean side further 
     requested for the Japanese side to steadily carry out the measures for improvement

  O The Japanese side raised the issues of △ strict application of the recent Time-off System 
     for labor union workers, △ expansion of coverage of SMEs relevant laws so as more 
     Japanese enterprises to be defined as SMEs △ protection of intellectual property rights 
     on items such as agricultural products and TV programs. The Korean side shared about 
     the recent improvements of its system for labor union workers

5. Both sides agreed to work towards holding the Tariff Consultation Working Group in August 
in order to discuss the issues of implementing the AEO Mutual Recognition Arrangement which 
was discussed during the Korea-Japan Summit meeting in May.

6. Both sides decided to strengthen real cooperation for the successful holding of the G20 
Summit (Korea) and APEC Summit (Japan), both to be held later this year, and to make 
sincere efforts to conclude the WTO DDA negotiations early as possible.

7. Both sides shared the view that the Director-General-level Economic and Trade Consultation 
is an efficient consultation for improvement of the business environment via managing and 
evaluating Korea-Japan trade and investment and solving various business-related problems. 
Both sides further agreed to hold the 4th Consultation in Japan later this year.

               Spokesperson and Deputy Minister for Public Relations of MOFAT

*unofficial translation