South Korea to strip Japan from trusted export partners list

South Korea to strip Japan from trusted export partners list

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.

AgenciesUpdated: Monday, August 12, 2019, 10:55 PM IST
article-image

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.

RECENT STORIES

Paris Viral Video: High Voltage Drama At Charles de Gaulle Airport As Migrants Protest Against...

Paris Viral Video: High Voltage Drama At Charles de Gaulle Airport As Migrants Protest Against...

Pakistan Horror: Man Strangulates Sister To Death In Family's Presence; Shocking Crime...

Pakistan Horror: Man Strangulates Sister To Death In Family's Presence; Shocking Crime...

Baltimore Bridge Collapse: Racist Posts Target Indian Crew On Social Media Following Collision

Baltimore Bridge Collapse: Racist Posts Target Indian Crew On Social Media Following Collision

'Undoubtedly Saved Lives': US Prez Joe Biden Lauds Quick Action By Indian Crew Members In Baltimore...

'Undoubtedly Saved Lives': US Prez Joe Biden Lauds Quick Action By Indian Crew Members In Baltimore...

Baltimore Bridge Collapse: 6 Missing Presumed Dead, Says Maryland State Police; Rescue Ops Underway

Baltimore Bridge Collapse: 6 Missing Presumed Dead, Says Maryland State Police; Rescue Ops Underway