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Japan and South Korea try to settle trade conflict

Japan and South Korea try to settle trade conflict
November 29
09:00 2019

According to the Ministry of Commerce of South Korea, in the second half of December, they will hold negotiations with the Japanese side. The topic for the talks is export.

“Negotiations will take place during the third week of December. During this time, it is planned to exchange views on the current situation in export control”, the agency notes.

Relations between the countries deteriorated in summer. In early July, Japan strengthened export procedures for Korea and excluded it from the list of countries that had the status of a “reliable trading partner”.

The Japanese side notes that they were forced to take such measures, including due to Korea’s non-compliance with the sanctions established by the UN with regard to the DPRK.

Seoul has already denied the allegations, stating that Tokyo’s actions are nothing more than revenge in response to the decision of the Korean court to make Japanese companies pay compensation for victims of the colonization of the Korean peninsula from 1910 to 1945.

“Such steps by Tokyo will undermine economic relations between countries that have been developing for 10 years,” Seoul said.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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