South Korea to take Japan off trusted export list

https://www.bbc.com/news/business-49317461

South Korea to take Japan off trusted export list

37 minutes ago

South Korea has said it will take Japan off its favoured trade partners' list. The move is a tit-for-tat response to Japan's decision earlier this month to do the same to South Korea.

Industry Minister Sung Yun-mo said Japan would be placed on a newly created restrictive trade list instead.

Long-running bilateral tensions were inflamed last year by South Korean court rulings ordering Japanese firms to pay compensation to Koreans over forced labour during World War Two. The legal decisions drew condemnation from Japan, which argues the dispute was settled in 1965 when diplomatic ties were normalised between the neighbouring countries.
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In July, Japan tightened rules on the export of materials crucial for South Korean tech manufacturers. Those restrictions, on products needed to make display panels and memory chips, have worried Seoul over the risks to its already slowing economy.
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