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South Korea and Japan are asking not to fall for smooth-commerce list

SEOUL (Reuters) – South Korea said on Wednesday it was against a Japanese plan to remove it from a Japanese list of the countries that will face a minimum of restrictions, saying it would lead to the undermining of their decades-old economic co-operation and security, and a threat to the free market.

FILE PHOTO: A police officer stands guard in the in the vicinity of the Japan and South Korea’s national flag inside a hotel in the South Korean embassy in Japan to hold the reception on the occasion of the 50th anniversary of the normalization of relations between Seoul and Tokyo, in Tokyo, June 22, 2015. (REUTERS photo/Toru Hanai/File Photo

Japan planned review of law, south africa, South Korea, the so-called white list that is in the midst of a deepening row over the fee for the war, forced labor, and, after Japan tightened up the pavement this month to export to South Korea; high-tech materials used to make memory chips and displays.

South Korea’s industry ministry said in a statement, Japan has been the removal of South Korea from the list, it would be a very serious matter that would undermine their economic and security partnership.

It prompted Japan to scrap the plan, highlighting concerns about the wider disruptions to global supply chains, in which the South Korean chip and tv makers.

“This is a very serious issue that is shaking the foundation of the republic of Korea-Japan economic cooperation and the Northeast asia co-operation, which is to be maintained and developed for more than 60 years of age,” Yoon Sung-mo, South korea’s industry minister, told a briefing.

“The removal of South Korea from the “white” list of countries by the international standards and we are very concerned about the serious negative impact that will have on global value chains and free trade,” Sung said.

In Japan, it is due to the decision to change from the list, after soliciting public opinion, which is due to be done by Wednesday.

Officials at the japanese ministry of trade were not immediately available for comment.

The questions on the list after Japan, and this month tightened restrictions on the export of high-tech materials in china.

The restrictions came as far away as Japan had in the erosion of trust in South Korea after a South Korean court ruled last year that companies had to pay compensation to South Koreans forced to work in Japanese factories during the japanese occupation of the Korean peninsula from 1910 to 1945.

Japan is of the view that the compensation issue was settled under a 1965 treaty, and the decision of the court violated the rules of international law.

Japan’s top government spokesman said on Wednesday that relations with South Korea are at an “extremely serious” state, and Japan would continue to urge South Korea to take appropriate action on a range of issues, which are worn-out tires.

‘IN THE LONG-TERM HARM’

US-based tech industry groups with members including Apple, has sent an open letter Tuesday to South Korea and Japan called for a swift resolution of their dispute.

A “non-transparent and one-sided changes to the export control policies that can lead to supply chain disruptions, delays in shipments, and, ultimately, in the long-term damage to the companies, which are active both within and outside the borders, and the workers they employ,” the business groups said in their letter.

Apple is a major customer of South Korean memory chip giant Samsung Electronics, and SK Hynix.

Japan has already threatened to drop South Korea from the list of countries that will face a minimum of trade restrictions in the context of a trade control law, which would require that the Japanese exporters are looking to have a license for some of the items that they want to sell to South Korea, which can be used in the manufacture of weapons.

There are 27 countries), Japan in the listing, such as Germany, the united Kingdom and the United States of america.

South Korea has stepped up diplomatic efforts to get Japan to scrap its trade controls, to ask a key ally of the United States of america, but it is not in a hurry to get in the future.

In south Korea, officials are expected to refer the matter to the agreement with the US national security adviser, John Bolton, who is in Seoul, south korea.

Reporting by Ju-min Park; additional reporting by David Dolan in Tokyo and Jane Chung and Heekyong Yang in Seoul, south korea; diting by Robert Birsel

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