SEOUL, March 16 (Korea Bizwire) — Japan’s removal of export curbs on South Korea is expected to ease business uncertainties and help ensure stable supply chains of key industry materials amid global supply disruptions and tougher competition in advanced industry sectors, experts said Thursday. Earlier in the day, Seoul’s industry ministry announced Japan will remove [...]
SEOUL/WASHINGTON, March 4 (Korea Bizwire) — South Korea won an exemption from the United States’ expanded export restrictions on Russia over its invasion of Ukraine, Seoul’s industry ministry said Friday. The move came as South Korea’s Trade Minister Yeo Han-koo met with senior U.S. officials in Washington on Thursday and the two sides agreed to [...]
SEOUL, Sept. 11 (Korea Bizwire) — South Korea filed a complaint with the World Trade Organization (WTO) on Wednesday over Japan’s export curbs, upping the stakes in the unprecedented trade row between the two Asian neighbors. The move came more than two months after Tokyo started restrictions of exporting three key industrial materials to Seoul, [...]
SEOUL, Aug. 5 (Korea Bizwire) — South Korea said Monday it will spend 7.8 trillion won (US$6.47 billion) over the next five years to nurture its materials, parts and equipment sectors and trim its dependence on Japanese imports in the latest move to cope with the neighbor’s economic retaliation. The move to boost R&D for [...]
SEOUL, Aug. 3 (Korea Bizwire) — Thousands of South Korean demonstrators staged a rally on Saturday for the third straight weekly demonstration to censure Japanese Prime Minister Shinzo Abe for expanding trade curbs against Seoul, demanding Abe apologize for Tokyo’s wartime forced labor. “Apologize!” shouted the protesters in front of the Japanese Embassy in Seoul, [...]
SEOUL, Aug. 2 (Korea Bizwire) — Japan’s expanded export curbs appear to target key pillars and future growth drivers of the South Korean economy, but its move could create mutually damaging situations for the closely intertwined Asian economies, depending on the scope of the measures, industry watchers say. The Japanese government passed a bill Friday [...]
SEOUL, Aug. 2 (Korea Bizwire) — Despite what Japan cites as reasons for its curbs on exports to South Korea, the country may have hidden motives that include an attempt to evade responsibility for its past wrongdoings, officials here say. On July 4, Tokyo implemented tougher restrictions on South Korea-bound shipments of three materials — [...]
SEOUL, Jul. 18 (Korea Bizwire) — Samsung Electronics Co. is exploring all possible means to secure stock piles of Japanese materials in preparation for Tokyo expanding its export restrictions, company sources said Thursday. The tech giant has sent letters to its local partners in the production of televisions, consumer electronics and smartphones, urging them to [...]
SEOUL, Jul. 15 (Korea Bizwire) — Trade tensions between South Korea and Japan are escalating as Tokyo seems to be preparing to expand the scope of its export controls beyond high-tech materials to a wide spectrum of areas, which could disrupt the global supply chain, industry watchers said Monday. Japan began applying stricter export rules [...]
SEOUL, Jul. 8 (Korea Bizwire) — President Moon Jae-in called on Japan on Monday to withdraw its recent export control against South Korean firms, describing it as an attempt to limit trade for a political purpose. Breaking his strategic reticence on the sensitive issue, Moon said his administration will first make “calm” efforts to resolve [...]