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S. Korea prepares countermeasures against Japan's trade curbs, perhaps removing Tokyo from its 'whitelist'

2019-08-08 6 Dailymotion

정부, 맞대응 착수…오늘 '수출우대국'서 일본 제외 논의<br /><br />Let's start with our ongoing coverage of the worsening Seoul-Tokyo trade row.<br />The South Korean government is expected to give the green light to corresponding measures against Japan's export restrictions.<br />It's considering whether to remove Japan from ITS own "whitelist" of 28 nations receiving expedited export reviews.<br />The trade ministry held a related ministers' meeting on this very topic.<br />We have our Hong Yoo on the line.<br />Any details coming through?<br />Jiyoon, as you mentioned South Korea's Minister of Economy and Finance Hong Nam-ki convened the meeting to go over possible countermeasures to Japan's new export curbs.<br />It's a closed-door gathering and the results of the meeting will NOT be announced today. They haven't specified when the information will be made public yet.<br />But according to the trade ministry, top officials are discussing whether to remove Japan from South Korea's so-called whitelist of preferential trading partners<br />They will decide on whether or not to change the import and export regulations for strategic materials headed to Japan.<br />This means South Korea might take away Japan's benefit of having a simplified inspection process.<br />And before this meeting, an interagency meeting on state affairs was convened by Prime Minister Lee Nak-yon. Did he mention the trade dispute?<br />Yes, Prime Minister Lee described Japan's economic retaliation as "unjustifiable" and a move that should not be taken by a world-leading country. <br />But he also emphasized that the Japanese government did not regulate exports other than the already regulated items that are the three core materials used in semiconductors and displays.<br />He noted that Japan has allowed one of the export regulated materials, EUV photoresist, to be exported to South Korea.<br />Lee also emphasized that Seoul will up its diplomatic efforts to recover from Japan's export restrictions.<br />Jiyoon. <br />

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