South Korea restores Japan on trade 'white list'



SEOUL: South Korea formally restored Japan to its list of countries it gives preferential treatment in trade on Monday, three years after the neighbors downgraded each other's trade status amid a diplomatic row fueled by historical grievances.

In announcing the move through a government gazette, South Korea's Ministry of Trade, Industry and Energy also said Seoul will further restrict technology and industrial exports to Russia and its ally Belarus to support the US-led pressure campaign against Moscow over the war in Ukraine.

After years of friction, Seoul and Tokyo are working to repair relations as they tighten their three-way security cooperation with Washington to counter the threat posed by North Korea. Pyongyang has used the distractions caused by the war to accelerate the testing of nuclear-capable missiles.

South Korean officials expect Tokyo to restore Seoul as a favored trade partner too but expect that step to take more time based on the procedures to revise Japan's export regulations.

Read more: https://ngulminthanglhanghal.wordpress.com/2023/04/25/south-korea-restores-japan-on-trade-white-list/


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