South Korea to strip Japan from trusted export partners list

Seoul: South Korea said Monday that it has decided to remove Japan from a list of nations receiving preferential treatment in trade in what was seen as a tit-for-tat move following Tokyo's recent decision to downgrade Seoul's trade status amid a diplomatic row.

It wasn't immediately clear how South Korea's tightened export controls would impact bilateral trade.

Seoul said some South Korean companies exporting to Japan will be able to receive exceptions from case-by-case inspections that are normally applied on sensitive shipments to nations with lower trade status and go through the same fast-track approval process that they currently enjoy.

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