Seoul accused Tokyo of weaponising trade to retaliate against South Korean court rulings that ordered Japanese companies to offer reparations to South Koreans forced into slave labour before the end of World War II when Japan had colonised the Korean Peninsula. Japan had also tightened export controls on key chemicals South Korean companies use to make semiconductors and displays, prompting South Korea to file a complaint with the World Trade Organization (WTO). In September 2019, South Korea dropped Japan from its “white list” of countries receiving fast-track approvals in trade, reacting to a similar move by Tokyo. South Korean officials expect Tokyo to restore Seoul as a favoured trade partner as well but foresee that step taking more time based on the procedures to revise Japan’s export regulations.
Pyongyang has used the distractions caused by the war to accelerate the testing of nuclear-capable missiles.
In announcing the move through a government gazette on Monday, South Korea’s Ministry of Trade, Industry and Energy also said Seoul will further restrict technology and industrial exports to Russia and its ally Belarus to support the US-led pressure campaign against Moscow over the war in Ukraine.Īfter years of friction, Seoul and Tokyo are working to repair relations as they tighten their three-way security cooperation with Washington to counter the threat posed by North Korea. South Korea has formally restored Japan to its list of countries it gives preferential treatment in trade, three years after the neighbours downgraded each other’s trade status amid a diplomatic row driven by historical grievances.
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