S. Korea whitelists Japan for export after 3 years
South Korea moves to improve its bilateral economic and diplomatic relationship with Japan by reinstating Tokyo on its trade white list. – AFP pic, April 24, 2023.
The Trade, Industry and Energy Ministry issued a revision to its public notice on exports and imports of strategic items in the day that calls for restoring Japan’s fast-track trade status, allowing companies that export strategic items to Japan to enjoy a shorter period of time for review and simpler paperwork.
In 2019, South Korea took Japan off its white list following Tokyo’s removal of Seoul from its list in an apparent retaliation against the South Korean Supreme Court rulings the previous year that ordered two Japanese companies to pay compensation to Korean forced labour victims during Japan’s 1910-1945 colonial rule of the Korean Peninsula.
Japan has not yet given details about when South Korea will return to its trade white list, though South Korean officials said Tokyo needs longer domestic procedures for a necessary law revision.
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