Japan to remove South Korea from favored trade partners list


(THIS ARTICLE IS COURTESY OF THE HINDUSTAN TIMES OF INDIA)

 

Japan to remove South Korea from favored trade partners list

Decision comes a month after Japan tightened curbs on exports to South Korea of three high-tech materials needed to make memory chips and display panels.

WORLD Updated: Aug 02, 2019 18:44 IST

Reuters
Reuters

Tokyo
Japan’s industry minister Hiroshige Seko.
Japan’s industry minister Hiroshige Seko. (AP Photo)

Japan’s cabinet on Friday approved a plan to remove South Korea from a list of countries that enjoy minimum export controls, a move likely to escalate tensions fueled by a dispute over compensation for wartime forced laborers.

The decision to drop South Korea from the “white list,” a step that has been protested fiercely by Seoul, comes a month after Japan tightened curbs on exports to South Korea of three high-tech materials needed to make memory chips and display panels.

The cabinet has approved the move, Japan’s industry minister, Hiroshige Seko said.

Japan has said the measures are based on national security concerns, citing South Korea’s insufficient export controls as well as the erosion of trust after South Korean court rulings ordered Japanese firms compensate wartime forced laborers.

Japan says the issue of compensation was settled by a 1965 treaty that normalized ties between Tokyo and Seoul.

(The story has been published from a wire feed without any modifications to the text, only the headline has been changed)

First Published: Aug 02, 2019 18:31 IST

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