Today's the day we find out how much damage Japan's trade curbs will do to South Korean companies,... or at least get a far better idea.<br />Japan's government has published its detailed regulations for its enforcement of export regulations.<br />We have Hong Yoo on the line.<br />What do we know about this list that was put out by Tokyo a few hours ago?<br /><br />Well Mark, Japan's detailed enforcement of export regulations includes its decision last Friday to exclude South Korea from the so-called whitelist of preferential trading partners.<br />These new regulations will come into effect after 21 days.<br />This means that some items out of the 1100 strategic materials that can be used for military purposes will not benefit from a simplified inspection process.<br />Even non-regulated items that Japan considers could be used to develop weapons will be subject to separate approval and have to go through a long process of export approval by Japan's trade ministry.<br />Japan also announced a new system of classifying trade partners into groups A to D.<br />Under the new system, countries included on the whitelist will be classified into group A in which Japan's regulated items benefit from a separate screening exemption if they get approval from Japan's trade ministry once every three years.<br />South Korea is categorized into group B and will have to go through a more difficult process of export approval.<br />But even for countries in group B, some items get special general comprehensive authorization so they can benefit from a screening exemption.<br />Special general comprehensive authorization is given to Japanese companies selected by the Japanese government for their approved export management.<br />Countries categorized into group D are those that Japan's trade ministry judges to have low credibility like North Korea and Iraq.<br />Back to you Mark.<br />
