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S. Korea to exclude Japan from trade whitelist in September @ 2019-08-13T12: Back Hot News
Keyword:South Korea Japan from Korea to
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SOUTH KOREA DID NOT SPECIFY WHICH OF JAPAN』S TRADE PRACTICES FAILED TO MEET INTERNATIONAL NORMS, BUT ITS OFFICIALS ACCUSED TOKYO OF FLOUTING INTERNATIONAL FREE TRADE PRINCIPLES THIS MONTH WHEN IT REMOVED SOUTH KOREA FROM ITS OWN WHITE LIST OF COUNTRIES UNDER MINIMAL TRADE RESTRICTIONS. JAPAN HAS ALSO IMPOSED STRICTER CONTROLS ON EXPORTS OF THREE CHEMICAL PRODUCTS WIDELY USED IN THE MANUFACTURE OF TWO OF SOUTH KOREA』S MOST IMPORTANT EXPORTS: SEMICONDUCTORS AND DISPLAYS FOR TELEVISIONS AND SMARTPHONES.
JAPAN CLAIMED IT WAS SETTING SUCH RESTRICTIONS BECAUSE IT BELIEVED SOUTH KOREA WAS LEAKING SENSITIVE INFORMATION TO NORTH KOREA, ALTHOUGH THEY DID NOT PROVIDE DETAILS. AFTER SOUTH KOREA VEHEMENTLY DENIED THE ACCUSATIONS, JAPAN SLAPPED DOWN ANOTHER TRADE RESTRICTION: REMOVING SOUTH KOREA FROM ITS 「WHITE LIST,」 AN INDEX OF TRUSTED TRADE PARTNERS. THIS WOULD LEAD TO EVEN MORE DELAYS IN EXPORTS OF ITEMS LIKE AUTO PARTS AND HOUSEHOLD ELECTRONICS TO SOUTH KOREA.
TIES HAVE DETERIORATED SHARPLY AFTER A SERIES OF COURT RULINGS IN SOUTH KOREA THAT ORDERED JAPANESE FIRMS TO PAY DAMAGES FOR WARTIME LABOUR
THE SOUTH’S TOP IMPORTS FROM JAPAN BY VALUE LAST YEAR WERE SEMICONDUCTOR COMPONENTS AND EQUIPMENT RANGING FROM SILICON WAFERS TO CHIP ETCHING MACHINES, TOTALING ABOUT $11 BILLION, OR NEARLY A FIFTH OF JAPANESE IMPORTS, DATA FROM THE KOREA INTERNATIONAL TRADE ASSOCIATION SHOWS.
AND OF HIS STANCE ON TRADE TARIFFS AND U.S. MILITARY AID, TRUMP TOLD A STORY OF GOING AS A BOY TO COLLECT RENT CHECKS WITH HIS FATHER, ADDING, 「IT WAS EASIER TO GET A BILLION DOLLARS FROM SOUTH KOREA THAN TO GET $114.13 FROM A RENT-CONTROLLED APARTMENT IN BROOKLYN, AND, BELIEVE ME, THOSE 13 CENTS WERE VERY IMPORTANT.」
TO PUT PRESSURE ON SOUTH KOREA, JAPAN HAS CHOSEN TO CUT OFF SEOUL』S ACCESS TO VITAL ELEMENTS USED TO MAKE THE ADVANCED MICROELECTRONIC DEVICES AT THE HEART OF SOUTH KOREA』S THRIVING, MODERN ECONOMY. JAPAN』S DECISION TO ESCALATE THE DISPUTE BY REMOVING SOUTH KOREA FROM THE SO-CALLED 「WHITELIST」 OF COUNTRIES TO WHICH ADVANCED TECHNOLOGIES CAN BE FREELY EXPORTED WILL, IN THE SHORT TERM, HURT A GLOBAL MARKETPLACE ALREADY WRACKED WITH TURMOIL. IN THE LONG TERM, IF THE CONFLICT DRAGS ON, CONTINUING TO DENY THE KOREANS ACCESS TO SUCH TECHNOLOGIES MIGHT POSE SERIOUS THREATS TO REGIONAL STABILITY AND SECURITY.
「NORTH KOREA HAS LONG HAD THE STRONGER NEGOTIATING POSITION,」 MINTARO OBA, WHO WORKED ON KOREAN ISSUES AT THE STATE DEPARTMENT, TOLD ME. 「NORTH KOREA』S PRESSURE CAMPAIGN IS ABOUT USING TIME, ADVANCING TECHNOLOGY, AND EXPLOITING THE IDIOSYNCRASIES OF THE US AND SOUTH KOREAN POSITIONS TO SIMULTANEOUSLY MAKE NORTH KOREA』S NUCLEAR PROGRAM SEEM MORE FIRMLY IN PLACE WHILE CREATING A SENSE OF URGENCY BEHIND GETTING A DEAL TO CURB THE THREAT.」
MANY SOUTH KOREANS HAVE SINCE VOWED TO BOYCOTT JAPANESE PRODUCTS AND CALLED ON GAS-STATION OPERATORS TO STOP REFUELING JAPANESE CARS, THE KOREA TIMES REPORTED ON TUESDAY.
YASUTOSHI NISHIMURA, JAPAN’S DEPUTY CHIEF CABINET SECRETARY, URGED SOUTH KOREA TO TAKE “APPROPRIATE STEPS” TO RESOLVE THE LABOR ISSUE, WHICH WAS REIGNITED BY A SOUTH KOREAN COURT LAST YEAR THAT ORDERED JAPANESE COMPANIES TO PAY COMPENSATION.
MOON ACCUSED JAPAN OF ABUSING ITS LEVERAGE IN TRADE TO PUNISH SOUTH KOREA OVER THEIR HISTORICAL DISPUTE. SOUTH KOREA SEES THE RECENT TIGHTENING OF EXPORT CONTROLS FOR SPECIALTY MATERIALS AS RETALIATION FOR SOUTH KOREAN COURT RULINGS EARLIER THIS YEAR THAT ORDERED JAPANESE CORPORATIONS TO COMPENSATE SOUTH KOREANS FORCED TO WORK FOR JAPANESE COMPANIES BEFORE AND DURING WORLD WAR II.
KUHN: "JAPAN"S MEASURE WILL ADD EVEN MORE DIFFICULTIES TO OUR ECONOMY," HE SAID, "WHICH IS ALREADY IN SEVERE CIRCUMSTANCES. HOWEVER, WE WILL NEVER AGAIN LOSE TO JAPAN," HE ADDED, IN A CLEAR REFERENCE TO JAPAN"S COLONIAL OCCUPATION OF KOREA. TODAY, SOUTH KOREA RESPONDED BY SAYING IT"LL STRIKE JAPAN FROM ITS LIST OF PREFERRED TRADING PARTNERS. YESTERDAY, SEOUL SUGGESTED IT COULD CONSIDER PULLING OUT OF A MILITARY INTELLIGENCE-SHARING AGREEMENT.
TOKYO (REUTERS) - INDUSTRY MINISTER HIROSHIGE SEKO SAID ON THURSDAY THAT JAPAN DOES NOT USUALLY ANNOUNCE EACH TIME IT GRANTS APPROVAL FOR EXPORTS BUT DID SO THIS TIME AFTER SOUTH KOREA CALLED JAPAN’S RECENT RESTRICTIONS AN “EMBARGO” ON SHIPMENTS.
IN HIS OPENING REMARKS OF THE MEETING WITH ESPER, SOUTH KOREAN DEFENCE MINISTER JEONG KYEONG-DOO SAID JAPAN’S EXPORT RESTRICTIONS AGAINST SOUTH KOREA ARE “CAUSING ADVERSE EFFECTS ON SOUTH KOREA-JAPAN RELATIONS AND SECURITY COOPERATION AMONG SOUTH KOREA, THE U.S. AND JAPAN”.
THE BARRAGE OF NORTH KOREAN TESTS FOLLOWS A HISTORIC MEETING BETWEEN KIM AND MR TRUMP AT THE END OF JUNE ON THE BORDER BETWEEN NORTH AND SOUTH KOREA, WHEN THEY PLEDGED TO REIGNITE STALLED TALKS ON THE DENUCLEARISATION OF THE KOREAN PENINSULA.
DURING STAFF MEETINGS THIS WEEK, KOLMAR KOREA CHAIRMAN YOON DONG-HAN PLAYED A YOUTUBE VIDEO THAT CRITICIZED SOUTH KOREAN PRESIDENT MOON JAE-IN AND PRAISED JAPAN’S PRIME MINISTER SHINZO ABE, ACCORDING TO SOUTH KOREAN NEWSPAPER JOONGANG ILBO AND OTHER LOCAL MEDIA.

 

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