S Korea to remove Japan from preferred trade list

Added On August 14, 2019

South Korea announced its decision on Monday.
Under the revised act on the export and import of strategic materials, Japan was dropped off South Korea's white list of trusted export partners that are given preferential export procedure for strategic materials.
The announcement came just weeks after Japan took South Korea off its own white list and tightened regulations on exports of three materials crucial for manufacturing memory chips and display panels.
South Korea's revised act is slated to take effect in September after the government collects public opinion and the legislation office deliberates for about 20 days.