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Business circles express concern about impact of Japan’s stricter export controls on ROK

Yomiuri wrote that concern is spreading in Japanese business circles that the GOJ’s planned imposition of stricter export controls on semiconductor-related materials bound for South Korea will have an impact on the economies of both Japan and South Korea because it could disrupt the supply chains established by Japanese companies. Nikkei quoted Chairman Sakurada of the Association of Corporate Executives as expressing hope that the relations between Japan and South Korea will return to normal before the dispute harms the economy.

 

NTV reported on Tuesday evening that Sakurada sees the measure as a message from the GOJ that with the bilateral relationship of trust being damaged by the ROK’s failure to stand by the agreement between the two governments on the requisitioned workers issue, it will not be possible to restore political, economic, and trade relations. TV Asahi quoted Sakurada as saying that the Japanese side will suffer less from the restrictions than the ROK side. NTV also cited separate comments by Japan Chamber of Commerce and Industry Chairman Mimura that he sees the measure as an effort by the GOJ to break out of the impasse and move bilateral relations in a positive direction and not intended to cause ties with the ROK to deteriorate. He blamed the ROK’s inaction for the current state of affairs and voiced hope that the two governments will start to talk.

 

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