Reference News Network reported on July 9 that South Korean President Wen Zaiyin said on July 8 that once Japans trade restrictions caused real losses to Korean enterprises, the South Korean government would have to take the necessary measures, which the South Korean side did not want to see.
According to Yonhap News Agency on July 8, Wen Zaiyin, chairing a meeting of chief secretaries and assistant officials in Tsingwatai on the same day, pointed out that Japans supply restriction measures cast a shadow on Korean enterprisesproduction and threatened the global supply chain. He urged Japan to withdraw its trade restriction measures and to consult with the ROK in good faith.
Wen said that it is absolutely undesirable for Korea and Japan to fall into a vicious circle of tit for tat.
Reported that this is Wens first direct response to Japans restrictions on exports of key semiconductor materials to Korea. Wen warned of the risk that Japans economic retaliation against the use of judicial sentiment would evolve into a zero-sum game between Korea and Japan, while pointing out that the government could not stand idly by if enterprises were damaged.
Wen promised to give top priority to supporting spare parts, materials and equipment industries and to work with manufacturers of spare parts and materials to get rid of external dependence, the report said.
South Koreas Ministry of Industry, Commerce and Resources said Wednesday that the Ministry of Economy and Industry of Japan had expressed its intention to accept the proposal after South Korea proposed to hold consultations on Japans restrictions on exports to South Korea. The two sides are coordinating details on the specific time, participants and issues.
Source: Editor Responsible for Reference Information: Xun Jianguo_NN7379