Japan Officially Moves South Korea Out Of Trade Preferences "White List"

According to Yonhap news agency, today (28), Japan has removed the Republic of Korea from trade convenience "white list" decree came into effect. The list includes 27 countries. Korea joined in 2004 for 15 years and became the first country to be excluded.

The report said that this is another measure of "economic retaliation" taken by Japan to strengthen the examination and control of the 3 key semiconductor materials exported to South Korea. The conflict between Japan and Korea is expected to intensify.

After becoming a non white list country, almost all products except food and timber will be affected. In principle, every order is required to be exported to Korea by the relevant departments of Japan, and the procedures are complicated.

On the morning of August 2nd, the Japanese cabinet approved the adoption of the revised export trade management order, and decided to move South Korea out of the white list. Yoko Hiroshige, Japan's minister of economic and industrial development, said the new order will be promulgated on 7, and will take effect in August 28th.

Yonhap said that although the Japanese side insisted that it was only a modification of the export trade management regulations, the South Korean side acknowledged that the Japanese side's action was obviously retaliation for the South Korean Supreme Court's ruling last year that the Japanese side made compensation for the South Korean labor force who was forced during the second world war.