(LEAD) president-Japan biz group

▲ President Lee Jae Myung (R) greets Yoshinobu Tsutsui, chairman of the Japan Business Federation, at Cheong Wa Dae in Seoul on Oct. 23, 2026, in this photo provided by Lee's office. (PHOTO NOT FOR SALE) (Yonhap)

▲ President Lee Jae Myung (C) poses for a photo with members of a delegation to the South Korea-Japan Business Meeting, including Ryu Jin (3rd from R), chairman of the Federation of Korean Industries, and Yoshinobu Tsutsui (3rd from L), chairman of the Japan Business Federation, at Cheong Wa Dae in Seoul on Oct. 23, 2026, in this photo provided by Lee's office. (PHOTO NOT FOR SALE) (Yonhap)

(ATTN: RECASTS headline, lead with latest info; ADDS details throughout, new photos)

SEOUL, Oct. 23 (Yonhap) -- President Lee Jae Myung on Friday called for closer economic cooperation between South Korea and Japan, stressing the need for the two countries to work together on supply chains for advanced industries.

Lee made the remarks during a meeting with a Japanese business delegation led by Yoshinobu Tsutsui, chairman of the Japan Business Federation, at Cheong Wa Dae, according to presidential spokesperson Kim Sung-wan.

"South Korea and Japan are important countries for which cooperation is essential in supply chains for advanced industries," Lee was quoted as saying, expressing gratitude to business leaders from both countries for their contribution to economic growth through close ties and cooperation.

Noting that public sentiment toward each other has improved, Lee called for closer work together to expand economic cooperation "with a forward-looking approach."

"Just as the leaders of the two countries are actively pursuing shuttle diplomacy to develop mutually beneficial relations, I hope that we will continue to expand not only business ties but also people-to-people exchanges between the two countries," Lee added.

Tsutsui stressed the growing importance of cooperation among like-minded countries amid global economic uncertainty, adding that the business communities of South Korea and Japan will continue to work together.

The meeting was also attended by Ryu Jin, chairman of the Federation of Korean Industries (FKI); Keiichi Iwata, chairman of Sumitomo Chemical; and Toshiaki Higashihara, executive chair of Hitachi, according to the presidential office.

The Japanese delegation visited Seoul to attend the 33rd meeting between the Japan Business Federation and its South Korean counterpart, the FKI. Established in 1983, the annual gathering is the highest-level meeting organized by the private-sector business communities of the two countries.

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