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Japan
President Moon Jae In (Credit : REUTERS)
Kicked from Japan's favorite export partner, South Korea: it's reckless!
The Japanese government has agreed to remove South Korea from a list of their favorite export partners. The policy is believed to add tension to the two countries after a long dispute over forced labor in World War II in South Korea.This decision was confirmed by Japanese Trade Minister Hiroshige Seko, as reported by AFP on Friday (2/8). Hiroshige said that at a cabinet meeting today, the government approved a revision of the export control law. That way, South Korea will be the only Asian country to be removed. Although the ally of the two countries, the United States (US) has asked Japan and South Korea to put aside the differences of opinion between the two countries, but it did not seem to be heard by the two countries.
South Korean President Moon Jae-in condemned this Japanese decision. According to Jae-in, this step is a rash act and encourages retaliation.
At a cabinet meeting broadcast live on local television stations, Jae-in called the Japanese move a selfish, destructive act, which would cripple the global supply chain and wreak havoc on the global economy.
The same thing was also conveyed by South Korean Foreign Minister, Kang Kyu-wha. He felt that this decision was too unilateral and arbitrary. He also said it would respond decisively to the Japanese unjust decision.
South Korea became the first country to be kicked in the list of Japan's favorite export partners. This policy will be implemented from 28 August 2019. This means that hundreds of sensitive products registered will be subject to tighter export controls. Previously, Japan had also limited the export of three key products to the chip industry and South Korea's smart phones since last month. However, Hiroshige Seko insisted that the policy was not an export embargo.
Source: https://www.cnnindonesia.com/ekonomi/20190802141058-92-417758/presiden-korsel-kutuk-jepang-tendang-mitra-ekspor-favorit
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