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INTERNATIONAL > East Asia & Pacific

South Korea’s favored trading status officially revoked

  • August 28, 2019
  • , All national papers
  • JMH Summary

All national papers reported that a GOJ ordinance revoking South Korea’s favored nation status for trading sensitive items officially took effect at midnight today, explaining that henceforth Japanese companies wishing to export dual-use materials to the ROK will need to obtain permission from METI in each instance. Until yesterday, three-year across-the-board permits were granted to those enterprises. As South Korean firms may now find it more cumbersome and time-consuming to import such products from Japanese business partners, the dailies projected that the ROK government is bound to step up its opposition to Tokyo’s moves to restrict Korea-bound exports. According to Asahi, many Korean industrialists are concerned about the outlook for business in view of Japan’s tighter export control procedures. 

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