Lets go! Korea will sue Japans export control measures in WTO today

category:Hot
 Lets go! Korea will sue Japans export control measures in WTO today


South Korean Trade Minister Liu Mingxi (SBS News)

Overseas Network, Sept. 11, according to Yonhap News Agency, 11, South Korea has decided to lodge a complaint with the World Trade Organization (WTO) today on Japans export control measures for Korean semiconductor materials.

On July 4, Japan imposed export controls on three key semiconductor industrial raw materials required by South Korea on the grounds of national security. It has been 69 days since then.

South Koreas trade minister, Liu Mingxi, said at a September 11 release that Japans export controls were politically motivated and were discriminatory measures directed against South Korea.

After South Korea lodged a complaint, the two countries first need to consult within two months. If the two sides do not reach an agreement at that time, they will enter into the WTO dispute settlement procedure. The final announcement of the litigation results may take more than two years.

On August 28, Japan officially removed Korea from the White List of Trade Facilitation. At present, the ROK has not lodged a complaint with the WTO. On the other hand, in response to Japans economic retaliation, the Korean government will move Japan out of its white list as soon as next week.

Source: Overseas Network Responsible Editor: Zhou Xinyi_NB12002