Japan's export restrictions on high-tech materials to S. Korea begin Thursday
- 5 years ago
Our top story this morning.
Japan's decision to curb exports of semiconductor-related materials to South Korea takes effect today.
It's a move that's sure to escalate the already-high tensions between the two neighbors over historical issues.
Refuting reports that accuse Tokyo of breaching WTO regulations and the spirit of free trade,... Japanese Prime Minister Shinzo Abe insisted the restrictions were not an embargo on South Korea.
Kim Hyo-sun starts us off.
Japan's export restrictions on semiconductor and display materials to South Korea begin Thursday amid the continued diplomatic row over Tokyo's use of Koreans for forced labor during World War II.
Tokyo's trade ministry abruptly announced this week that exports to Seoul of high-tech materials used in semiconductor and smartphone production will have to be approved on a contract-by-contract basis.
It added South Korea will be removed from its list of countries, such as the U.S. and European nations, that have minimum restrictions on trade.
Speaking at a political debate in Tokyo on Wednesday,... Japanese Prime Minister Shinzo Abe stressed the move is not an embargo.
"If another country doesn't keep their promise, you can't have preferential treatment like before, and some media don't report this properly, but it is not an embargo. It just means you can't have preferential treatment as you have so far."
He added the restrictions should not be linked to historical issues between the two countries,... insisting the move does not violate WTO rules.
Fielding a question on Japan's new restrictions,... Seoul's foreign minister Kang Kyung-wha said Wednesday that her ministry has used various diplomatic channels to demand Tokyo scrap the ban.
Calling it an "unreasonable" retaliatory measure,... Kang said it will hurt bilateral economic ties and global trade,... vowing to work with other countries who could also be affected.
South Korea's stance is drawing support from places you might not expect.
Japan's Asahi Shimbun published an editorial on Wednesday,... urging Tokyo to withdraw such measures that go against the principle of free trade.
It also noted how such a move is in stark contrast with the declaration Japan made as the host of last week's G20 summit in Osaka,... during which it stressed trade shall be free, fair and non-discriminatory.
The Tokyo Shimbun also criticized the Japanese government for its not-so-wise decision to escalate tensions through trade restrictions.
Other media outlets in China, the UK and the U.S. also pointed out that such a move will only harm Japan,... with the Wall Street Journal condemning Tokyo for taking a page from President Trump's playbook.
Kim Hyo-sun, Arirang News.
Meanwhile, Japanese billionaire of Korean-descent and CEO of Softbank will meet chiefs of South Korean conglomerates including the Vice Chairman of Samsung Electronics, Laee Jay-yong.
...
Japan's decision to curb exports of semiconductor-related materials to South Korea takes effect today.
It's a move that's sure to escalate the already-high tensions between the two neighbors over historical issues.
Refuting reports that accuse Tokyo of breaching WTO regulations and the spirit of free trade,... Japanese Prime Minister Shinzo Abe insisted the restrictions were not an embargo on South Korea.
Kim Hyo-sun starts us off.
Japan's export restrictions on semiconductor and display materials to South Korea begin Thursday amid the continued diplomatic row over Tokyo's use of Koreans for forced labor during World War II.
Tokyo's trade ministry abruptly announced this week that exports to Seoul of high-tech materials used in semiconductor and smartphone production will have to be approved on a contract-by-contract basis.
It added South Korea will be removed from its list of countries, such as the U.S. and European nations, that have minimum restrictions on trade.
Speaking at a political debate in Tokyo on Wednesday,... Japanese Prime Minister Shinzo Abe stressed the move is not an embargo.
"If another country doesn't keep their promise, you can't have preferential treatment like before, and some media don't report this properly, but it is not an embargo. It just means you can't have preferential treatment as you have so far."
He added the restrictions should not be linked to historical issues between the two countries,... insisting the move does not violate WTO rules.
Fielding a question on Japan's new restrictions,... Seoul's foreign minister Kang Kyung-wha said Wednesday that her ministry has used various diplomatic channels to demand Tokyo scrap the ban.
Calling it an "unreasonable" retaliatory measure,... Kang said it will hurt bilateral economic ties and global trade,... vowing to work with other countries who could also be affected.
South Korea's stance is drawing support from places you might not expect.
Japan's Asahi Shimbun published an editorial on Wednesday,... urging Tokyo to withdraw such measures that go against the principle of free trade.
It also noted how such a move is in stark contrast with the declaration Japan made as the host of last week's G20 summit in Osaka,... during which it stressed trade shall be free, fair and non-discriminatory.
The Tokyo Shimbun also criticized the Japanese government for its not-so-wise decision to escalate tensions through trade restrictions.
Other media outlets in China, the UK and the U.S. also pointed out that such a move will only harm Japan,... with the Wall Street Journal condemning Tokyo for taking a page from President Trump's playbook.
Kim Hyo-sun, Arirang News.
Meanwhile, Japanese billionaire of Korean-descent and CEO of Softbank will meet chiefs of South Korean conglomerates including the Vice Chairman of Samsung Electronics, Laee Jay-yong.
...