Following Japan's export restrictions on high-tech materials essential for producing semiconductors and display panels-- Korea's top export items--- Seoul authorities and the country's top business leaders are putting their heads together respond to Japan's controversial trade action.
Our Park Hee-jun reports.
Finance minister Hong Nam-ki and the presidential chief of staff for policy Kim Sang-jo,... will reportedly meet the top executives of major South Korean companies on Sunday to address the issue of Japan's new export controls which came into effect on Thursday.
Local media have reported that they will hold face-to-face talks with Chung Eui-sun, executive vice chairman of Hyundai Motor Group,... Chey Tae-won, Chairman of SK Group,... and Koo Kwang-mo, Chairman of LG Group.
"I plan to meet them all at once. It's being scheduled. I'll let you know separately when everything has been decided."
The heads of Samsung Electronics and Lotte Group are said to be unable to join the meeting due to overseas travel.
Samsung Electronics Vice Chairman Lee Jae-yong is believed to be visiting Japan as early as Sunday,... to find ways to minimize the damage on its semiconductor business.
A senior Blue House official said on Friday that the top office is actively searching for solutions to the issue by collecting opinions from businesses.
As part of such efforts,... the Blue House is also arranging a meeting between President Moon Jae-in and South Korean conglomerate heads,... which will likely focus on addressing the very same issue.
President Moon is said to be looking to discuss possible countermeasures with around 30 major South Korean companies, including Korea's five biggest conglomerates.
And this issue is also expected to be raised by the president,... during his meeting with top aides on Monday.
Park Hee-jun, Arirang News.