Following Japan's export restrictions on high-tech materials essential for producing semiconductors and display panels-- which are Korea's top export items--- Seoul authorities and the country's top business leaders are putting their heads together respond to Japan's controversial trade action.<br />Our Park Hee-jun has our top story. <br />Finance minister Hong Nam-ki and the presidential chief of staff for policy Kim Sang-jo,... met the top executives of major South Korean companies on Sunday to address the issue of Japan's new export controls, which came into effect on Thursday.<br />According to Blue House Spokesperson Ko Min-jung,... they exchanged ideas on the economic uncertainties and agreed to continue close coordination. <br />Local media reports say the luncheon was with leaders of Hyundai Motor Group, SK Group, and LG Group.<br />These firms are among the many that are vulnerable to the trade tensions,... as Japan's regulations limit vital components for chips and smartphone displays from being exported to Korea.<br />The heads of Samsung Electronics and Lotte Group are said to have been unable to join the meeting due to overseas travel.<br />Samsung Electronics Vice Chairman Lee Jae-yong is believed to have traveled to Japan the same day,... to find ways to minimize the damage to its semiconductor business.<br />Lotte Group Chairman Shin Dong-bin is also holding meetings with Lotte affiliates and investors in Japan.<br />The presidential office says it cannot confirm who was at the session.<br />It appears to be keeping the details of such meetings under wraps,... to minimize the damage to the affected companies.<br />The gathering is believed to be a preparatory one ahead of President Moon Jae-in's meeting Wednesday with around 30 major South Korean companies,... being arranged by Cheong Wa Dae.<br />The president will take the matter into his own hands by listening to the difficulties local firms are facing,... and will reflect their voices in the government's countermeasure plans.<br />A Blue House official told Arirang News that the event can pretty much be seen as fixed.<br />President Moon has yet to make any public messages or give any instructions concerning Japan's export restrictions.<br />The president could be saving his strong comments toward Japan as the final card in dealing with the trade dispute.<br />But there is a possibility that this issue could be raised by Moon,... during a meeting with his top aides on Monday or during his meeting with the conglomerates.<br />Park Hee-jun, Arirang News. <br />
