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South Korea has once again called on Japan to withdraw its recent decision to restrict exports to Korea.
Seoul's finance minister says those measures will not only weaken global economy, but also erode international trust in Japan itself.
Kim Da-mi tells us more.
South Korea has once again called on Japan to retract its latest export restrictions... and urged Tokyo to engage in dialogue over the issue.
During an economic meeting on Wednesday morning, South Korea's finance minister, Hong Nam-ki,... said Tokyo's export curbs could undermine the foundation of the two sides' economic cooperation.
"We are concerned that the Japanese move could further weaken a global value chain beyond the two countries, which in turn could damage global economic growth."
The minister also expressed concerns over Japan's unfair export restrictions targeting a specific country,... and underscored South Korea-Japan's long economic ties.
Hong then said... Japan's latest move could hurt its level of trust, in the eyes of the international community.
Calling Japan the biggest beneficiary of the World Trade Organization,... Hong referred to the G20 Osaka Leaders' Declaration back in June,... that called for a free, fair, non-discriminatory and stable trade environment.
Meanwhile, the trade ministry also said... that it sent a letter to its Japanese counterpart,... calling for dialogue between their director-generals on the export curbs.
The ministry noted that Seoul is ready for talks with Tokyo... if Japan is ready to present clear reasons for removing Korea from its 'white list' of countries that receive preferential trade treatment.
It further emphasized that South Korea's export controls are actually stricter than that of Japans,... in response to Tokyo's allegations that Seoul had lax measures... in regards to the transfer of arms-related material.
Meanwhile,... the Seoul government said it will secure an extra budget to support industries related to parts and materials in the second half of the year.
Seoul is also expected to announce its plans to boost industrial competitiveness... and reduce its heavy reliance on Japan... in the coming weeks.
KIM Da-mi, Arirang News.
