Surprise Me!

Almost all industries could be affected by Japan's removal of S. Korea from whitelist

2019-08-28 2 Dailymotion

日 백색국가 제외 강행...전략물자 1천여개 품목 영향받나<br /><br />With Japan's removal of South Korea from its whitelist of trusted trading partners coming into effect today,....eyes are on how the move will affect local industries across the board.<br />Our Yoon Jung-min starts us off.<br />At the stroke of midnight on Wednesday, South Korea was removed from Japan's whitelist of trusted trading partners.<br />According to the Korean Security Agency of Trade and Industry, over one-thousand-one-hundred items, including 857 non-sensitive items, are classified as strategic goods by Japan and will face tighter controls.<br />Among the non-sensitive items are high-tech materials, electronics, machinery, computers, sensors, navigation equipment, and many other items often used for military purposes other than weaponry.<br />"Korean companies that have been buying machinery from Japan will wish to keep using the same products because machinery such as inspection equipment is standardized for Japanese products."<br />Even for non-strategic goods, shipping to countries excluded from the list could require case by case approval if Japan thinks it necessary.<br />In effect, industries across the board except for food and lumber could be affected at any time if Tokyo decides to implement a tighter screen.<br />The Korean government is paying closer attention to 159 items in particular.<br />Exporters in Japan have to get case-by-case approval from the government every six months for shipping to non-whitelist countries unless they follow Tokyo's Internal Compliance Program.<br />The approval may take about 90 days for non-whitelist countries,...while it usually takes about a week for whitelist countries.<br />Yoon Jung-min, Arirang News.<br />

Buy Now on CodeCanyon