Published: Thu, July 11, 2019
Economy | By

South Korea urges Japan to scrap export curbs, pledges help to firms

South Korea urges Japan to scrap export curbs, pledges help to firms

Shinzo Abe, the Japanese prime minister, has indicated that he ordered restrictions on exports of chemicals critical to South Korea's high-tech manufacturing industry out of concern that banned technology is being shared with North Korea.

S&P Global Rating's Asia-Pacific chief economist Shaun Roache said the dispute was as unpredictable as the U.S.

Kang "expressed concern that this is undesirable in terms of friendly relations between South Korea and Japan and trilateral co-operation among South Korea, the US and Japan", Kang's ministry said in a statement. "It should no longer walk straight toward a dead-end street", Moon said in a meeting with senior executives from 30 of South Korea's biggest companies, including the Samsung, Hyundai, and SK conglomerates.

Meanwhile, Junichi Ihara, Japan's ambassador at the country's permanent mission to global organizations in Geneva, stressed at the meeting that the Japanese measure does not amount to a trade embargo and is fully in accordance with WTO rules, noting that it represents an operational review needed to ensure the appropriate implementation of the country's export regulations, according to informed sources.

Japan announced the curbs on the exports of materials used in smartphone displays and chips last week, amid a growing dispute over South Koreans forced to work for Japanese firms during World War Two.

As South Korea sought USA help in the dispute, triggered by disagreement over the issue of compensation for South Koreans forced to work for Japanese firms during the Second World War, it also took steps to limit the damage to its companies.

The Japanese government is also seeking consultation on whether South Korea should be removed from its "white country list".

As part of its new trade restrictions, Japan's trade ministry had said individual applications will be needed for permission to export to South Korea three materials: fluorinated polyimide, hydrogen fluoride and resists.

On Japan's claim that it implemented the measure as there had been an inappropriate case on the South Korean side, Paik said that this could not be a reason for the action in light of WTO rules.

It did not say whether the Japan-South Korea dispute would be discussed. According to Reuters, experts believe South Korea's current stockpiles will only last for four months.

The term comfort women is a euphemism used to refer to women who provided sex, including those who did so against their will, for Japanese troops before and during World War II.

"He is likely to begin with what I would call deep listening", she said.

Shares in South Korean chip giants rose for a third day on Thursday on expectations that Japanese export curbs may ease a supply glut of South Korean memory chips.

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