South Korean Officials: Remove Japan from the White List of Trade as soon as next week

 South Korean Officials: Remove Japan from the White List of Trade as soon as next week

On August 14, the Ministry of Industry, Commerce and Resources of Korea decided to adjust the classification of trading partners from the original A and B to A 1, A 2 and B. Among them, the simplified treatment of export formalities obtained by Category A 1 remains unchanged, which is equivalent to the original treatment of Category A; while the treatment of Category A 2 declines, Japan will be included in the new treatment of Category A 2.

Japan is the only country to be moved to Class A-2 among South Koreas nearly 30 top trading partners, Yonhap reported. According to the Ministry of Industry, Commerce and Resources of Korea, the countries in the White List participated in many agreements to promote trade facilitation, but Japan violated the agreements by imposing export controls on Korea.

An official from Koreas Ministry of Industry, Commerce and Resources said at a press conference on September 9th that the formulation procedure of the Amendment to the Import and Export Notice of Strategic Goods, which removes Japan from the White List of Korean trade, has entered the end stage. We are in the final evaluation and defining the wording, and the Korean government will announce the amendment as soon as next week.

In early July, the Japanese government listed three key semiconductor industrial raw materials used to manufacture memory chips and displays as objects of export control to South Korea; in early August, it decided to revoke the status of South Koreas trusted trading partners and remove South Korea from the White List of Trade Facilitation, which came into effect on 28 August.

South Korea accused Japan of retaliating against South Korea by trade because it was dissatisfied with the court ruling that Japanese enterprises should compensate South Korean laborers who had been forcibly recruited during the Second World War. Japan denies this statement.

In response, the Korean government announced on 12 August that it would exclude Japan from the Korean trade white list. On 22 August, it announced that it would no longer renew the Military Intelligence Protection Agreement with Japan, on the grounds that Japan imposed export controls on Korea on the grounds of lack of mutual trust, and that the security cooperation environment between the two countries had changed significantly and was no longer suitable for continuing mutual cooperation. Change sensitive military intelligence.

The period for Soliciting Comments on the amendment of the South Korean Strategic Goods Import and Export Notice expires on September 3. Japans Ministry of Economy, Industry and Industry said Wednesday that if the ROK pushed forward the implementation of the amendment without clarifying the specific basis and details of the response, it would be convenient for Japan to regard the ROKs actions as arbitrary retaliatory measures. South Koreas Ministry of Industry, Commerce and Resources responded that the amendment to exclude Japan from the White List was aimed at strengthening export management, not retaliation.