E-Tools

Japan OKs restoring preferential trade status to S. Korea NHK

The Japanese government has approved reinstating South Korea to a list of countries entitled to simplified export procedures.

The Cabinet passed the measure on Tuesday.

In 2019, Tokyo tightened export controls against Seoul and removed it from the list, citing security concerns.

The Japanese government decided in April to restore the preferential trade status to South Korea through director-level talks. The dialogue was the first of its kind in about three years.

Trade Minister Nishimura Yasutoshi says Japan will work to ensure that the revised trade system will be properly implemented within a framework with South Korea.

He said that Japan will continue to work with allies including South Korea to contribute to international peace and maintain safety through strict export controls.

The preferential status enables most of the items that had been subject to strict controls to be exempt from export permits required per contract. The items include machine tools, which are believed to be at high risk of being diverted for military use.
Summary
Japanese government restores South Korea to a list allowing simplified export procedures. This decision was made after director-level talks in April, marking the first dialogue between the two countries in about three years. The preferential trade status allows exemptions for items like machine
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ID: 5fe26ac1-4cba-4f09-b56e-3f6c8893abb3

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20230627_23/

Date: June 27, 2023

Created: 2023/06/27 21:03

Updated: 2025/12/09 02:29

Last Read: 2023/06/27 21:07