South Korea Officially Downgrades Japan as Trade Partner

2019 09 19

 

South Korea officially removed Japan from its list of trusted trade partners on Wednesday as part of an on-going trade war between the two nations.

The conflict is the result of South Korea's expectations for compensation for forced labor and sexual slavery by Japan before and during World War II.

Japan downgraded its trading relationship with South Korea in August by taking it off a list of nations for which exports of industrial and high-tech products are fast-tracked.

South Korean companies shipping strategic goods to Japan will now have to submit five documents to win individual approval, which is more than the previous three, reports Yonhap news agency. The approval process will take around 15 days, instead of five.

Last month, South Korea announced plans to strengthen its inspection regime for battery, tire and plastic waste imported from Japan. The Ministry of Environment said it will focus on radioactive and heavy metals tests on waste imported from Japan for recycling. The move follows a decision to strengthen inspection of Japanese coal ash imports.

Many South Koreans have been boycotting Japanese goods, including beer, cosmetics and cars, and tourism to Japan has also declined.

 

THE MARITIME EXECUTIVE

 

The magazine SEA has been published since 1935
International business magazine JŪRA MOPE SEA has been published since 1999
The first magazine in Eurasia in the four languages: English, Chinese, Russian and Lithuanian


Address:

International business magazine JŪRA MOPE SEA
Minijos str. 93, LT-93234 Klaipeda, Lithuania
Phone/Fax: +370 46 365753
E-mail: news@jura.lt
www.jura.lt

 


Publisher:

Ltd. Juru informacijos centras


The magazine JŪRA has been published since 1935.
International business magazine JŪRA MOPE SEA has been
published since 1999.

ISSN 1392-7825

2017 © www.jura.lt